5.56NATO
08-02-2013, 11:53 AM
In a rare breach of central bank etiquette, a paper by the Richmond Fed said the ECB is hamstrung by institutional problems and acts on the mistaken premise that excess debt is the cause of the eurozone crisis when the real cause is the collapse of growth, which has, in turn, spawned a debt crisis that could have been avoided.
“The ECB lacks a coherent strategy for creating the monetary base required to sustain the money creation necessary for a growing economy,” said the paper, written in July by Robert Hetzel, the bank’s senior economist.
http://www.telegraph.co.uk/finance/economics/10217395/Top-Fed-economist-slams-incoherent-ECB.html
Yep, just rev up those printing presses!
“The ECB lacks a coherent strategy for creating the monetary base required to sustain the money creation necessary for a growing economy,” said the paper, written in July by Robert Hetzel, the bank’s senior economist.
http://www.telegraph.co.uk/finance/economics/10217395/Top-Fed-economist-slams-incoherent-ECB.html
Yep, just rev up those printing presses!