Open letter to the ECB

The ECB is expected to tighten its monetary policy stance in reaction to the soaring inflation. However, this will by itself do nothing to address the root cause of the inflation: the soaring prices of fossil fuels.  In this open letter academics and financial economists and analysts sketch a route that allows the ECB to tighten its monetary policy stance while at the same time speed up the energy transition and thus reduce the vulnerability of the eurozone for shocks to the price stability coming from volatile fossil fuel prices.

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