Tag Archives: ecb

Helicopter Money

The world is changing. After the financial crisis of 2007/2008, economic growth was supposed to recover, but it did not. Central banks all over the world cut interest rates sharply to just above zero percent. It did not help either. Then, quantitative easing was invented: if the standard recipe does not work, why not try

Freezing cold interest rates

Which temperature would characterise best current interest rates? Certainly not one that feels as comfortably warm. Current interest rates are so low that one would not expect people to put any money on their saving accounts. Probably, it is the low transaction costs due to the ICT revolution or something like that which explains why

Europe and the euro

There was a time that ‘Europe’ occupied a little spot in the middle of the newspapers. How this has changed in the last few decades! Now, ‘Europe’ is almost everywhere. Whether it is monetary policies, public debt policies or trade policies, Europe is involved. Even economic growth is nowadays considered to be a European rather