Before Mario Draghi became its President, the ECB was widely regarded as just another dysfunctional European institution: overly focused on an illusory inflation demon, indifferent to anaemic economic growth in the Eurozone and in any case too impotent in terms of unconventional policy tools at its disposal. Whilst debate in the US and the UK has moved to the timing of exit from unconventional monetary policy, the recent announcement that the ECB would embark on an unsterilized programme of private…
‘The ECB: now Europe’s least dysfunctional institution’
12 Sep 2014
Posted by Barry Norris