ECB’s Rehn Calls for Europe-Wide Solution to Crisis

The video discusses the need for stronger fiscal and monetary policy responses in the EU, highlighting the importance of coordinated efforts to address economic challenges. It explores the role of monetary policy tools like OMT and the historical context of their use. The discussion also touches on potential long-term structural changes in the economy, such as shifts in consumption and supply chains, and the challenges of managing public and private debt.

Discuss the implications of accumulating public debt during an economic crisis.

What considerations should be made regarding private debt cancellation as suggested by Mario Draghi?