Draghi’s magic has not removed the lowflation threat
While Heiner Flassbeck commented on Wolfgang Münchau yesterday, I have written a letter to the Financial Times in London on a related topic: “Sir, Wolfgang Münchau (“Europe’s drifters wait but inflation never comes”, June 9) debunks the European Central Bank’s recent easing measures for what they really are: a farcical move designed to please the markets, without however doing anything t…
“Sir, Wolfgang Münchau (“Europe’s drifters wait but inflation never comes”, June 9) debunks the European Central Bank’s recent easing measures for what they really are: a farcical move designed to please the markets, without however doing anything to lift inflation from its dangerously low level. And at that Mario Draghi has proved to be an able magician once again.
Indicating that the ECB may not be done yet, he has left the markets guessing about any wonders still to come. Lucky for him the mood is such that only few seem to ponder whether the ECB’s wonder weapons might really be sufficient to counter th…
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