Shadow state

A term for the eurozone that emerged around 2012. It refers to the fact that an entity was created behind the backs of the citizens of the participating states, in which the ECB in particular has a largely different task than that laid down in the treaties, namely to ensure price stability, and has now become the bank regulator, crisis manager and lender of last resort. Many see the legislative power together with the executive power in the hands of the crisis summits of the finance ministers, which have already become a habit. – On the other hand, it benefits governments in donor countries like Germany if the ECB assumes a good part of the costs of the bailout. After all, governments do not have to justify burdens that are hidden deep in the central bank’s confusing balance sheets – unlike higher taxes or new debts in the national budget. – See AIGDeal, presumption, central bank, buyouts, central bank, aval, bank, systemic, bank bailout, bank bailout, reverse, bazooka, bailout, balance sheet adjustment, bailout, deficit financing ban, democracy deficit, Finland, euro bonds, common, European Financial Stabilization Facility, European Monetary Union, fundamental error, contingent claim, ECB sinfall, Friedman thesis, guarantee, money market operations, moneylender of last resort, government guaranteed bond, government spreads, peer pressure, wage policy, coordinated, moral hazard, Plan C, policy clamp, policy default, return ideology, shadow debt, debt repayment pact, European, safety net, global, single master liquidity conduit, stabilization mechanism, European, stability fund, European, stand-by credit, structural reforms, transfer union, redistribution, central bank-induced, debt-productivity linkage, contract fidelity, growth-debt fact, historical, monetary union 2. TwoWay Option.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/