Draghi just said it. The ECB is technically prepared for negative interest rates.
Now granted, we have had negative real rates of interest for some time, but if we move into negative nominal rates........thats another story entirely.
These guys will stop at nothing to get the inflation train rolling.
I wonder do the banks have to pay some sort of inverted DIRT tax to the state if the people start paying interest to banks on both loans and deposits. I suspect the Irish tax code is silent on this and it was never envisaged it could occur.
Knowing Ireland, they will invent a new tax on depositors so you still have to pay DIRT.