Skip to comments.IMF tells eurozone to turn on printing presses
Posted on 07/17/2012 3:54:50 AM PDT by Olog-hai
The euro crisis continues to weigh down the global economy, the International Monetary Fund said Monday (16 July), putting pressure on the European Central Bank to lower its interest rate even further and issue more cheap loans to the banks.
"There is room for monetary policy in the euro area to ease further. In addition, the ECB should ensure that its monetary support is transmitted effectively across the region and should continue to provide ample liquidity support to banks under sufficiently lenient conditions," the IMF said in its annual World Economic Outlook.
The specific reference to the ECB is meant to increase pressure for the Frankfurt-based body to turn on the printing presses via cheap loans, low interest rates and "some form of quantitative easing", meaning direct or indirect bond purchasing aimed at lowering governments' borrowing costs.
(Excerpt) Read more at euobserver.com ...
This is not good. Some more, circumstantial yes, evidence of those in power having a global currency in mind, by collapsing existing currencies...