ECB, Lagarde: ‘no to debt cancellation, it would make no sense as demonstrated by Venezuela, Argentina, Lebanon

“The debt of the countries must not be canceled”, as its eventual cancellation would correspond to a “violation of the treaties”. Thus the number one of the ECB, Christine Lagarde, in an interview with the French newspaper La Provence.

Among other things, “it would not make any sense from an economic point of view, given that interest rates are extremely low at the moment and also because, in the event that a country stops repaying its debts, creditors would be reluctant to finance it, a situation that happened in “Venezuela, Argentina and Lebanon”.