NGEU provides us with an opportunity, for the first time ever, to achieve genuine European fiscal stabilisation backed by common debt issuance. 13/19  The ECB will continue net purchases under the PEPP until at least the end of March 2022.
Investors and bankers struggled to understand the balance sheet or gauge the true extent of its liabilities. By the time it collapsed, Parmalat had established dozens of arrangements involving offshore companies, which did not form part of the company’s consolidated financial statements. 4  BIS central bankers’ speeches  25. Instances such as these reaffirm the need for systemic reforms in two areas.