ECB is impotent. QE can’t solve eurozone’s problems
Nothing can unite people as well as common mistakes. The ECB executive board looked like a solid monolith until the beginning of autumn. The business activity falling time and again, the growing risk of German economic recession, the slack inflation and the escalation of a trading conflict between the USA and China had made the “doves” invulnerable. The Central Bank was simply obliged to give the eurozone a large monetary stimulus to pull it out from the abyss. But then a new question has been put on the agenda in September: will it…
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