Diritto monetario by Giacomo Bosi;

Author:Giacomo, Bosi; [Bosi, Giacomo]
Language: ita
Format: epub
Tags: Diritto, Studi e Ricerche
ISBN: 9788815410160
Publisher: Societa editrice il Mulino Spa
Published: 2023-08-14T22:00:00+00:00

[53] In questo stesso senso scrive bene, più recentemente, A. Tooze (cfr. Time to expose the reality of «debt market discipline», in «Social Europe» (https://socialeurope.eu/time-to-expose-the-powerful-actors-behind-market-discipline), 25 maggio 2020), quando annota che «if we have enshrined price stability as one of the objectives of the central bank we have made a further concession to bondholders. In return, the least we can ask is to know precisely to whom we owe what obligations and how the terms of the debt are shaped, down to the nitty-gritty. Clearly, this call for radical transparency would imply a redefinition of the boundary between public and private, between financial markets, politics and state. Might it deter investors? Would it subject them to unacceptable scrutiny? Well, it would involve a power shift. The aim of the game is to prevent the reverse – the humiliating subjection of politics and the state to private financial power».

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