Key parts of the Labour leadership frontrunner's plans would fall foul of EU laws intended to avoid runaway inflation, and consign the UK to a three-year legal battle with the European Court of Justice (ECJ). . . .
Mr Corbyn's proposals would clash with Article 123 of the Lisbon Treaty, which forbids central banks from printing money to finance government spending.
Perhaps; but the ECB has already embarked on a QE program involving the purchase of government securities. What are government securities but government debt used to finance government spending? The rule has already been bent. Why not bend it in a way that actually benefits the economy, the people, and the nation's infrastructure? Corbyn's proposal is needed, it will work, and it is an idea whose time has come.
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