The coronavirus crisis has been a perfect embodiment of the Vuca (volatile, uncertain, complex and ambiguous) environment in terms of its impact on society, public health and the economy. The speed with which the crisis moves across the national borders and regions, county lines and towns has been both unprecedented and unpredictable when compared to prior pandemics in modern history. Only three weeks ago, just a handful predominantly east Asian countries had severe restrictions in place on the daily activities of ordinary citizens. Just a week back, only a handful of airlines around the world cut travel to the severely…
The ECB should match every euro in sovereign bonds it buys with new money issuance, argues Constantin Gurgdiev.