Commentary
Despite the unprecedented increase in the European Central Bank’s (ECB) asset purchase program, the spread of Southern European sovereign bonds versus German bonds is rising.
Office buildings, including the corporate headquarters of the European Central Bank (ECB), Commerzbank and Deutsche Bank stand in the financial district in the city center lit by the full moon and the sunrise in Frankfurt, Germany, on March 21, 2019. Thomas Lohnes/Getty Images
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Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat” (2015), and “Life in the Financial Markets.”
