European Central Bank President Mario Draghi (right) chats to then-US Federal Reserve chair Janet Yellen and Bank of Japan Governor Haruhiko Kuroda in August 2017, in Jackson Hole, Wyoming. Policy harmonisation between major economies would be ideal, but in the meantime there’s much Europe can do on its own to stimulate its economy. Photo: Kyodo
David Brown
Opinion

Opinion

Macroscope by David Brown

Europe must ignore naysayers, including the US, and loosen the fiscal and monetary purse strings to stave off recession

  • Europe’s emphasis on austerity and fiscal stabilisation since the global financial crisis is not working. With a recession and no-deal Brexit looming, it’s time for the ECB and European governments to loosen the strings

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European Central Bank President Mario Draghi (right) chats to then-US Federal Reserve chair Janet Yellen and Bank of Japan Governor Haruhiko Kuroda in August 2017, in Jackson Hole, Wyoming. Policy harmonisation between major economies would be ideal, but in the meantime there’s much Europe can do on its own to stimulate its economy. Photo: Kyodo
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