Buba’s Weidmann on the virtues of sound finances

weidmann

"Sound public finances are a precondition for a stable currency, a precondition that monetary policy cannot create itself," explained the president of the Bundesbank, Jens Weidmann, in a speech to the Institute for Law and Finance in Frankfurt.

"High levels of government debt make it difficult to safeguard price stability in more ways than one," he said, with increased borrowing rates dampening growth rendering monetary policy excessively expansionary.

"In order to ensure sound public finances

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