Negative interest rates does not bring big macroeconomic gains

 As symbolic politics it is proving disastrous — most of all in Germany, where it is turning people against the Eurozone.

 Many Germans treasure their frugality, perhaps excessively or irrationally, and it has become an important part of the narrative Germans tell themselves about the economic order they have built.

 Tyler Cowen Bloomberg 6 augusti 2019 

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