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December 15, 2011 at 08:23 AM EST
20 billion euro ECB weekly buy isn’t nothing
While not my first choice for public policy, the 20 billion euro ECB bond buying isn’t nothing. It’s something over $1.3 trillion per year at current exchange rates. At the macro level it sort of funds the entire euro zone deficit spending. And deficits are currently reasonable high. So, even while recognizing that timing is everything, the solvency issue [...]
While not my first choice for public policy,
At the macro level it sort of funds the entire euro zone deficit spending.
So, even while recognizing that timing is everything,
Not that the euro economy will boom anytime soon
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