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Socialism for the bankers, capitalism for the rest of us – so it goes

Hancké, Bob ORCID: 0000-0002-3334-231X (2022) Socialism for the bankers, capitalism for the rest of us – so it goes. LSE European Politics and Policy (EUROPP) blog (22 Jul 2022). Blog Entry.

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On 21 July, the European Central Bank decided to raise interest rates for the first time since 2011 and unveiled a new tool aimed at protecting eurozone states from rising borrowing costs. Responding to the decision, Bob Hancké argues the ECB’s response to inflation essentially boils down to a massive transfer of funds to banks, almost certainly without any positive effects for the population at large and especially for those who most feel the negative effects of inflation on essentials like energy and food.

Item Type: Online resource (Blog Entry)
Official URL:
Additional Information: © 2022 The Author
Divisions: LSE
European Institute
Subjects: J Political Science > JZ International relations
J Political Science > JN Political institutions (Europe)
H Social Sciences > HG Finance
Date Deposited: 18 Aug 2022 09:39
Last Modified: 18 Aug 2022 09:39

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