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If your great-aunt or grandmother used to give you a mark with a sentimental look and the words “buy yourself a chocolate bar for it”, then it was clearly a cash donation for a specific purpose. So roughly what the EU has been doing with its program against the Corona economic crisis in its member states since this week. Of course, the EU doesn’t say to its members “buy it a chocolate bar”, the EU says “buy something with digital and something green for it.” So a fiber optic cable and an e-car filling station for example. That’s why there’s not just one euro, no, there’s 750 billion euros! You can’t buy that much chocolate. The EU states are happy anyway.
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What you never asked yourself with grandma, where did the mark that she pressed into your hand come from? Did your grandma do it like the EU and just borrow the money? Then the chocolate would be debt-financed, so there would be a mortgage on the chocolate. But because the chocolate has long been eaten, the debts have to be paid from other pots, for example from the fortune of grandpa. No problem with a mark, even if interest rates were exorbitantly high in the D-Mark era. But 750 billion, it looks different. How good that, unlike Grandpa, the EU can simply print money when it needs it. It has already done a lot and has quadrupled the amount of money in the euro area in recent years.
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Well, grandpa can print money too
Well, Grandpa can also print money, Grandpa is forbidden to do that, but as long as you trust him when he distributes his counterfeit money because you say, “Go, Grandpa doesn’t give me any fake foxes, Grandpa but not ”, he brings his notes further wonderfully. It’s just stupid when at some point someone starts to doubt, holds grandfather’s bills up to the light and realizes that they don’t even have a watermark. Then the stupid one is who has the appearance. He’s only got a scrap of paper and a lot of trouble.
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Therefore, in times of cornucopia politics, the first thing that counts is: don’t look too closely, just have confidence. In the EU anyway. Just think about getting the vaccine. If you look at it from the perspective of the virus then it went really well.
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It’s all a question of perspective.
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