March 2, 2021

Canceling debt is illegal, irresponsible, and harmful




The president of the PSOE, Cristina Narbona, and the head of the economy of Podemos, Nacho Álvarez, have written a column in El País asking for the partial cancellation of the debt accumulated by the European Central Bank (ECB). They have been joined by the economist Thomas Piketty, creator of the most absurd proposals embraced by the extreme left, who demands a cancellation of government debt in the hands of the ECB “in exchange for more public investment” … issuance of public debt. Fascinating.

Given these crazy proposals, Luís de Guindos, vice president of the ECB, has settled the controversy with two pieces of evidence. “Canceling the debt is illegal and also does not make economic sense,” he told Reuters on the day

Daniel LacalleDaniel Lacalle


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