Italian Prime Minister Giuseppe Conte (centre) chats to other politicians after his speech at the Senate in Rome on August 20. Without deep structural reforms, Italy looks certain to remain “the sick man of Europe”. Photo: EPA-EFE
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Central banks like the Fed and the ECB can’t save the global economy when governments refuse to play their part

  • Fed and ECB actions after the 2008 crisis have been crucial, but they have reached the limits of what they can achieve
  • If governments like Germany won’t stimulate and Italy won’t reform, it’s unreasonable to expect more from central banks

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Italian Prime Minister Giuseppe Conte (centre) chats to other politicians after his speech at the Senate in Rome on August 20. Without deep structural reforms, Italy looks certain to remain “the sick man of Europe”. Photo: EPA-EFE
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