The irony for the EU, which even its leaders now recognise must change course radically, is that it can’t. At least it can’t in its present structure without such dislocating changes as to be scarcely credible. The central problem has been, and remains, the single currency. As long as countries, particularly on the southern periphery, […]
Posts Tagged ‘ECB’
Another credit crunch looms
Mar 9th, 2012 by Ann Pettifor.The finance sector is signalling alarm, and our politicians are once again asleep at the wheel. Another “credit crunch” may be looming. The most significant evidence emerged from the ECB’s second Long Term Refinancing Operation (LTRO) on Thursday last week. The LTRO is simply language intended to disguise the “printing of money” by the ECB […]
