Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/256684 
Year of Publication: 
2021
Series/Report no.: 
SWP Comment No. 23/2021
Publisher: 
Stiftung Wissenschaft und Politik (SWP), Berlin
Abstract: 
One of the most serious economic and social consequences of the pandemic is the higher public debt of the Eurozone countries. The massive interventions of the Euro­system have lowered borrowing costs to record lows. For some time to come, the sustainability of the public finances of the most indebted Eurozone countries will depend on expansionary monetary policy. However, this approach raises questions. It is uncertain how long monetary policy can support the debt market of the EU-19, whether there are effective alternatives, and what impacts the high debt levels and the interventions of the European Central Bank (ECB) will have on the foundations of the Eurozone.
Persistent Identifier of the first edition: 
Document Type: 
Research Report

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