Associate Prof, Uni Bologna, Economics of climate & natural resources. Tweeting also as citizen, 🇫🇮/🇪🇺 and as resident 🇮🇹. Views are mine, most likely borrowed from somewhere.
Suomeksi @nikoekon.bsky.social
https://sites.google.com/view/jaakkola
Niko Jaakkola
“Mother, I've weighed the risks - which I prefer to living in a world dominated by Nazis. Bill"
Thank god for Bill and so many more like him
(Pic from @profpeterdoyle.bsky.social on X)
However, w/ member state public debt stocks high & heading up, the ECB also needs to be part of wargaming the economic response: how the EU financial system will cope w/ a military crisis, and how to ensure there are sufficient resources for the defence w/o melting down the financial system. 2/3
EU level agreement on economic crisis response, pre-committed economic tools & agreement on fiscal burden-sharing would reduce the pressure on the ECB. Still, there are contingencies in which ECB action would be necessary; this is another area in which political friction/delay must be minimised. 3/3
It’s the needle in Koschei’s egg, hidden right under our noses. And history keeps showing the same thing: dictatorships don’t usually fall apart in slow motion. They look rock-solid right up until the moment they suddenly aren’t.
5/5
