The European Central Bank must deliver but not send the wrong signals. Overly ambitious inflation targets must be reconsidered, as must hardened strategies in monetary policy.
The ruling on the European Central Bank’s quantitative easing appears to open up an irremediable conflict at the heart of the euro area, with potentially fatal consequences for the currency and its central bank. It may turn out differently.
Oliver Hinz: Christine Lagarde recently argued for a Central Bank Digital Currency. Indeed, there are reasons why central banks should consider this option.
Jan Pieter Krahnen: Financial institutions doing business in Europe would be better for the banking union and financial stability than nationally oriented banks.
Tobias Tröger: Even ardent Europeans may learn a (limited) lesson as the court is willing to take a deeper look into the machine room of central banks' operations.
Alexander Ludwig: The ECB has reached a limit with its monetary policy. Other policy responses are needed: an expansion of fiscal measures for more investment in infrastructure and education.