German court paves the road for more debt in Europe
German judges handed down an important verdict this week: EU treaties are no obstacle to shared debt in the union. The ruling comes shortly after the European Commission called for new joint injections into the economy. “As an investor I would carefully reconsider my bond portfolio,” one critic warns.
On Tuesday, the German constitutional court in Karlsruhe ruled that “exceptional” EU loans to overcome problems caused by the Covid-19 pandemic do not violate European treaties.
Russia sanctions fuel debate over crypto
Sanctions imposed on companies and individuals in Russia and Belarus have triggered concerns that crypto-currencies offer an escape route to circumvent them. Insiders argued that these concerns are unjustified, although crypto sceptics argue that “we should not be naive”.