- Sees light at the end of the tunnel for most euro zone crisis countries
- Agrees with Draghi that they have no reason to foster irrational inflationary fears
- Deflation risks in the EZ are limited
- Inflation to increase with recovery
- Expansive monetary policy appropriate for conditions but mustn’t become permanent therapy
- Buying government bonds blurring the line between monetary and fiscal policy
- Says German economic upswing continuing this year and next
As long as the EZ isn’t a moth and the light at the end of the tunnel isn’t a blue one then I can’t see any problems
