It must have been a disappointment for those who had expected an exciting and action-loaded ECB meeting today. In fact, the ECB did not do anything. Interest rates remain on hold and any possible new unconventional measures were left safely stored in the closet. ECB president Mario Draghi himself had stirred the expectations for today’s […]
MEPs Insist On Troika Jobs And Recovery Plan
Growing unemployment – especially among the young, leading to their emigration – the loss of small firms and rising poverty rates, even among the middle class, are the key impacts of the economic crisis and adjustment measures designed by the ECB/EU Commission/IMF “Troika” for Greece, Cyprus, Portugal, Ireland, say Employment Committee MEPs in a resolution voted […]
The ECB Preview, Going In Circles
Last week’s data has given rise to renewed speculation about further ECB action. Headline inflation below 1% and unemployment above 12% have fueled market speculation that the ECB could cut rates at this week’s meeting. In our view, this speculation is premature for two main reasons: (1) the ECB simply does not have a reputation […]
