LE FIGARO.
- The public debt in France agitates the spirits.
The debate rages on between those who believe that it is impossible to cancel the debt linked to the Covid and those who ensure that we should not deprive ourselves of this simple game of writing that does not harm anyone ...
Alain MINC.
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As long as the debate does not concern private debt - it would be a sacrilege and a lack of respect for the markets which would put us in an uncontrollable gear - it can take place.
In theory, the cancellation of the public debt held by the European Central Bank (ECB) is not an intellectual scandal.
Then there is the reality.
The legal reality, that recalled by Christine Lagarde recently: it is contrary to the European treaties.
Read also:
Debt: the question of repayment divides economists and politicians
And the political reality: it's a ration of cod liver oil that the Germans cannot swallow.
Once we have said that, it is useful to immerse ourselves in the practice, enacted by Mario Draghi: contrary to what the Americans have done, each time a
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