Sacred Euro: Sovereign Debt(s) and EU?s Bare Credit in the Corona Crisis

Far from being a neutral medium of exchange, money affects the daily practice of our economic dealings while being intrinsically connected to the whole of legal, social, and political interactions of the community to which we belong. In this light money enjoys its own morality, where voluntary customary usage (?moral? from the Latin mos, ?manner, custom?) is backed by the subsistence of a normative order, a nomos: the former and the latter being collectively practiced, shared and endorsed in a certain social group. Hence, sovereign power (the beholder of the law) can hardly posit the use of ?fiat money? by decree when mechanisms of inflation, mistrust, recession or even depression are in action.