Sir, I refer to your “Good news at last from the eurozone economy” March 6 and in which you, acting something like an ECB/Draghi groupie, egg ECB on to proceed with its quantitative easing. Sincerely I have no idea what good that would do at this moment.
For instance what is a poor equity lacking European bank to do, when ECB buys up even more of that relative scarce inventory of safe European assets which allows banks to hold little equity? And what are pension funds to do? And in what should widow and orphans invest?
Someone is cornering the market of the safe, right in front of your eyes, and you do not even notice it? Are you part of the great European risk aversion scam?
Europe does not need ECB or banks to finance what is safe… they need banks to finance what will keep it safe… namely the risky... the SMEs and the entrepreneurs.