I am all for European QE. The risks of doing too little far exceed the risks of doing too much. Deflation and secular stagnation are the macroeconomic threat of our time. That said, I think it is a mistake to suppose that QE is a panacea in Europe, or that it will be sufficient.
Watch a clip of Larry Summers, Harvard University professor and former US secretary of the Treasury, addressing the World Economic Forum’s Annual Meeting 2015 in Davos above, and catch up with his full session on the end of quantitative easing, here.
Image: Lawrence H. Summers, Charles W. Eliot University Professor, Harvard University, USA lifts his hand as he talks during the session ‘Ending the Experiment’ in the congress centre at the Annual Meeting 2015 of the World Economic Forum in Davos, January 22, 2015. WORLD ECONOMIC FORUM/swiss-image.ch/Photo Valeriano DiDomenico
