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ECB Chief Economist: OK, I Get it, the Euro Doesn’t Work
wolfstreet.com / by Wolf Richter / October 2, 2015
The ECB started its €60-billion-a-month QE bonanza earlier this year and was expected to run it through September 2016, but already the Big Money is clamoring for more. Shook up by what’s happening in China, the ECB said it might accommodate them.
Now Standard and Poor’s warned or recommended – whichever – that the ECB coulddouble the size of the QE program, to €2.4 trillion and extend it “until mid-2018.” That the Big Money is clamoring for more is no surprise: despite the ECB’s QE and negative deposit rates, stock prices have plunged, with the German DAX down 23% in six months.
So here comes Peter Praet, ECB Executive Board Member and Chief Economist, with an amazing presentation at the BVI Asset Management conference in Germany, showing one devastating chart after another on how the euro has failed the Eurozone economy.
The post ECB Chief Economist: OK, I Get it, the Euro Doesn’t Work appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/10/02/ecb-chief-economist-ok-i-get-it-the-euro-doesnt-work/
