Since when? Since Mr. “One Needle in my Compass” retired? Don’t tell the Germans…
- Sees recession in euro region during parts of 2012
- 3-year LTRO not the new normal of ECB policy
- SMP is not quantitative easing
- Must fight inflation and deflation alike
- ECB can support growth as long as there are no price risks
Sounds like the ECB is turning into a branch of the Federal Reserve…
