The Limits of Lagarde (Project-Syndicate)

Mario Draghi deserves neither hostility nor adulation for his stewardship of the European Central Bank. He proved adept at working within ridiculous constraints that forced him to do things that no central banker should ever do. What matters today is that his successor, Christine Lagarde, will have to labor within exactly the same ridiculous constraints.

Yanis Varoufakis, a former finance minister of Greece, is leader of the MeRA25 party and Professor of Economics at the University of Athens.

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