WITHThe idea first came up during the financial crisis, around ten years ago. Even central bankers thought about it at the time: could the monetary authorities simply remove the national debt from their balance sheets, so that they vanish into thin air overnight?
Now the idea comes up again. Because the countries around the world are in debt to a much greater extent due to the Corona crisis than during the financial crisis. As a result, voices are now being raised again to simply cancel the debt, at least in part. And in fact, this would be quite easy to do, and not a single citizen would suffer financial losses as a result. But this would have other, incalculable consequences.