Governments cannot borrow in their own currencies, but they can provide places of safe deposit for savers, and it is essential that they do — Richard Murphy

Proposal for the incoming government of Germany to avoid legally imposed fiscal austerity through creative problem solving.

Tax Research UK
Governments cannot borrow in their own currencies, but they can provide places of safe deposit for savers, and it is essential that they do
Richard Murphy | Professor of Practice in International Political Economy at City University, London; Director of Tax Research UK; non-executive director of Cambridge Econometrics, and a member of the Progressive Economy Forum

https://www.taxresearch.org.uk/Blog/2021/12/06/governments-cannoit-birrow-in-their-own-currencies-but-they-can-provide-places-of-safe-deposit-for-savers-and-it-is-essential-that-they-do/