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E.C.B. Stimulus Calls for 60 Billion Euros in Monthly Bond-Buying
New York Times ^ | January 22, 2014 | David Jilly & Jack Ewing

Posted on 01/22/2015 6:38:28 AM PST by John W

FRANKFURT — The European Central Bank said on Thursday that it would begin buying hundreds of billions of euros worth of government bonds in an ambitious — though some say belated — attempt to prevent the eurozone from becoming trapped in long-term economic stagnation.

The bank’s president, Mario Draghi, said the central bank would begin buying bonds worth 60 billion euros, or about $69.7 billion, a month. That is more spending than the €50 billion a month that many analysts had been expecting.

The long-awaited program, known as quantitative easing, comes after inflation in the 19 countries of the eurozone fell below zero and raised the specter of deflation, a sustained decline in prices that can lead to higher unemployment and that is notoriously difficult to reverse.

(Excerpt) Read more at nytimes.com ...


TOPICS: Business/Economy; News/Current Events; United Kingdom
KEYWORDS: draghi; ecb; euro; europeqe

1 posted on 01/22/2015 6:38:28 AM PST by John W
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To: John W

The EU is worried about “high unemployment that is difficult to reverse”. Meanwhile, EU leaders encourage “migrants” to overwhelm the continent. huh?


2 posted on 01/22/2015 6:45:15 AM PST by grania
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To: John W

QE is in - so much for all the supposed German opposition.


3 posted on 01/22/2015 7:08:00 AM PST by PGR88
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To: John W

Down the rathole for the EU.


4 posted on 01/22/2015 7:30:29 AM PST by Seruzawa (All those memories will be lost,in time, like tears in rain.)
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To: All

Yup, the two halves of the western _reserve_ system pretending not to be: two drunks hanging onto each other.


5 posted on 01/22/2015 7:59:46 AM PST by veracious
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To: John W
Gentlemen, start your wheelbarrows.


6 posted on 01/22/2015 8:18:57 AM PST by KarlInOhio (The IRS: either criminally irresponsible in backup procedures or criminally responsible of coverup.)
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