ECB Chief Economist: OK, I Get it, the Euro Doesn’t Work…(Duh!)

by Wolf Richter
WolfStreet.com
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 could double 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 Rest…HERE

This entry was posted on Saturday, October 3rd, 2015 at 1:54 pm and is filed under Conspiracy, Corruption, Economics, Government Evil, World Politics. You can follow any responses to this entry through the RSS 2.0 feed.