Former ECB Vice President on Inflation Risk, Recovery Fund

The video discusses the European Central Bank's (ECB) clear messaging on its expansionary monetary policy, despite market difficulties in interpreting its actions. It covers the ECB's stance on the euro exchange rate, inflation concerns, and potential actions in December, such as increasing the PEP program. The discussion also highlights the recovery fund's role in fiscal policy and the need for a revised Stability Pact to address economic challenges.

What potential issues are associated with the recovery fund as discussed in the text?

How does the speaker view the future of fiscal policy in the euro area?

What revisions to the Stability Pact are suggested in light of the current economic situation?