ØU kommentar: Den europæiske centralbank indfører nu en ny hjælpeordning for de sydeuropæiske lande, da de kan blive ramt af den forhøjede korte rente. Ordningen “Transmission Protection Mechanism” viser, hvor langt ude Eurozonens finansielle sundhedstilstand er. I dag, 15 år efter finanskrisen, kan de sydeuropæiske lande stadig ikke stå på egne ben, og de skal altså have særlige hjælpeordninger for ikke at kollapse. EU’s elite, herunder nationale regeringer, satser stadig på, at EU snart kan transformeres til en politisk og finanspolitisk (og militær) union. Med opgivelse af forsvarsforbeholdet er også Danmark ved at bane vejen for en deltagelse.
The new backstop — dubbed the Transmission Protection Mechanism — will first and foremost be a new bond-buying tool. Analysts expect it to be unlimited in nature, with some aspects left deliberately vague. So as not to upset efforts to curb record inflation, the instrument would also probably involve selling other securities in the ECB’s portfolio, according to people familiar with the matter. An alternative would be to drain the liquidity created from the system, similar to what was done at the time of the now-defunct Securities Markets Program from 2010. ECB President Christine Lagarde told euro-area finance ministers on June 16 that the tool would kick in if borrowing costs for weaker nations rise too far or too fast, according to people briefed on their discussions.
