Mario Draghi: the modern-day Mephisto

by Lorenzo Piccoli

Wolfgang Münchau is one of the wisest economic experts we have in Europe. He was really concerned with the euro crisis, or what he now calls “the certain debasement of the euro”, starting from 2010 already. Still, he is against the “creeping euroscepticism” that is on the rise everywhere in Europe, and especially in Germany – and yes, he is German. This article is a beautiful op-ed.

Whatever you need to know about Germany, you will probably find it somewhere in Goethe’s Faust. But it is rare that wisdom is found in part two of the tragedy, one of the most revered and least read books in all of German literature. Someone who managed to dig up something truly remarkable from it was Jens Weidmann. The president of the Bundesbank cited Mephisto’s advice to the Emperor that the simple solution to a lack of money is to print it.