SELECTED SITES: PROJECT SYNDACATE//The ECB’s Battle against Central Banking J. Bradford DeLong

Tweet

BERKELEY – When the European Central Bank announced its program of government-bond purchases, it let financial markets know that it thoroughly disliked the idea, was not fully committed to it, and would reverse the policy as soon as it could. Indeed, the ECB proclaimed its belief that the stabilization of government-bond prices brought about by such purchases would be only temporary.......(more to read in the link: http://www.project-syndicate.org/commentary/delong119/English)