Rolling coverage of the latest economic and financial news, including reaction to Mario Draghi’s latest package to save the eurozone economy
Boom! The newest member of the ECB’s governing council has gone public with his concerns over Draghi’s stimulus package.
Essentially it was the question about how effective will a new monetary easing be.
“As things change — also this forward guidance and the policy may change — not tomorrow, not the day after tomorrow, but I wouldn’t think it’s there for the next decades.
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Those three governors alone represent roughly half of the euro region as measured by economic output and population.
Other dissenters included, but weren’t limited, to their colleagues from Austria and Estonia, as well as members on the ECB’s Executive Board including Sabine Lautenschlaeger and the markets chief, Benoit Coeure, the officials said.
It is high time for fiscal policy to take charge.
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