debating progressive politics in Europe and beyond
The letter sent by ECB President Trichet and his successor (and current head of the Bank of Italy) Draghi to the Berlusconi government calling for reforms in return for a resumption of bond purchases by the central bank has been made public. It starts with “At the current juncture, we consider the following measures as [...]
Economic policymakers learnt from the Great Depression and, to date, have avoided a repeat. Yet it is not too late for them to snatch defeat from the jaws of victory. Examples abound: the latest is yesterday’s statement from the ECB justifying its unchanged monetary policy stance. Unemployment is at record levels across much of Europe. [...]
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