Monetary Policy and Capital Centralisation in the EMU

Monetary Policy and Capital Centralisation in the EMU

photo: Theophilos Papadopoulos The ‘unconventional’ monetary policies implemented by central banks seem to have failed. Quantitative easing, zero interest rates and – more recently – negative interest rate policies have not been able to bring inflation and growth targets back to ‘normal’ levels. On the contrary, the world’s major economies are close to deflation. The European […]

QE in the Eurozone Has Failed

QE in the Eurozone Has Failed

photo: Chris Goldberg Eight months have passed since the ECB started its own quantitative easing (QE) program, and almost everyone in Europe seems to agree with Mario Draghi that ‘QE has been a success’. But is such enthusiasm warranted? Let’s take a look at the data. The obvious starting place is the inflation rate. As is […]