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Call for QE to Stave Off Euro Deflation

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Ralph Atkins
Financial Times
December 23, 2011

A top European Central Bank policymaker has called for “quantitative easing” to be used to boost the euro zone economy if deflation risks emerge across the 17-country region.

The comments by Lorenzo Bini Smaghi, ECB executive board member, are the strongest indication yet that the central bank would expand its policy tools to prevent a possible disastrous economic slump in continental Europe.

In an interview with the Financial Times, Mr Bini Smaghi also hinted at frustration over the UK’s reluctance to join efforts to strengthen the euro zone. The euro’s success was in the City of London’s interest, he said. “The European Union, and ECB, would certainly contribute to help Britain if London was in difficulty. I would thus expect a reciprocal attitude.”

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This article was posted: Friday, December 23, 2011 at 4:10 am

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