The ECB may not grant any loans to governments or quasi-governmental entities in the EU, including by way of underwriting debt instruments. This is explicitly stated in Article 123 TFEU and in Article 21 of the “Protocol on the Statute of the European System of Central Banks and of the European Central Bank” annexed to the TEC. – See fear, perverse, presumption, central banking, fear, perverse, buyouts, central banking, bailout, balance sheet adjustment, European Monetary Union, fundamental error, ECB sin, sovereign debt repatriation, redistribution, central bank-induced, contract compliance, path inflation, central bank credit, public.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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