Posted on 01/22/2015 6:38:28 AM PST by John W
FRANKFURT The European Central Bank said on Thursday that it would begin buying hundreds of billions of euros worth of government bonds in an ambitious though some say belated attempt to prevent the eurozone from becoming trapped in long-term economic stagnation.
The banks president, Mario Draghi, said the central bank would begin buying bonds worth 60 billion euros, or about $69.7 billion, a month. That is more spending than the 50 billion a month that many analysts had been expecting.
The long-awaited program, known as quantitative easing, comes after inflation in the 19 countries of the eurozone fell below zero and raised the specter of deflation, a sustained decline in prices that can lead to higher unemployment and that is notoriously difficult to reverse.
(Excerpt) Read more at nytimes.com ...
The EU is worried about “high unemployment that is difficult to reverse”. Meanwhile, EU leaders encourage “migrants” to overwhelm the continent. huh?
QE is in - so much for all the supposed German opposition.
Down the rathole for the EU.
Yup, the two halves of the western _reserve_ system pretending not to be: two drunks hanging onto each other.
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