In a letter to the editor of the Financial Times
Those challenging the ECB’s rescue measures are not mad
I have the privilege to read the Financial Times regularly with great intellectual pleasure, although your continuous praise of the ECB’s policy sometimes suggests a soupçon of systematic bias. Martin Wolf’s article “Why the European Central Bank can save the Eurozone” (April 21) crosses a Rubicon.
Mr Wolf requests unlimited powers for an institution which possesses by definition only limited powers. His request coincides with a period of sustained legal controversy over the ECB’s non-standard monetary policy measures since 2012. (Read more …)