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April 2016 Archives

Here is the text of a letter sent on 28th January 2016 to Dr Mario Draghi, President of the ECB, about quantitative easing:

I am writing to you as an Irish citizen who, like yourself, is concerned about the state of the EU's economy. I refer to your recent statements about extending the ECB's programme of quantitative easing to help stimulate Eurozone growth and inflation.

If I may be so bold to say so, I don't think that simply acquiring financial assets from major institutions will achieve these objectives as your measure is much too remote from the real economy where growth and inflation actually occur. My view is supported by many leading experts (including the Fed) who seem to agree that QE may not be working as intended1

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