Vermögensvernichtungswaffe

“Wealth destruction weapon.” Criticism of a new plan to have the ESM buy up debt from struggling EU countries and, if needs must, exchange that paper for new euros from the European Central Bank. Some fear this will overeliminate incentives for struggling countries’ politicians to learn to stop overspending. And of course German economists think inflation might result.

(Fer MÖ genz fer NICK toongz voff eh.)

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