$1 trillion European bailout may lead to political crisis
Queen’s University economics professor Thor Koeppl is available to discuss the $1 trillion European Central Bank rescue package that was announced today.
Professort Koeppl is originally from Germany and spent two years working as a researcher at the European Central Bank before coming to Queen’s in 2004.
“The intervention of the ECB comes as a complete surprise to me. It seems that they have subscribed to a swap between bad and good debt,” Prof Koeppl says. “There is open dissent among member nations concerning this policy. Ultimately, the bailout package might lead to a political crisis in the more stable countries in Europe such as Germany and France.”
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