Friday August 14, 2020

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Mario Draghi's moves to fight deflation could force Irish banks away from property and encourage them to lend to start-ups , writes David McWilliams.

8th June, 2014
Last Thursday Draghi wrote the obituary for the Bundesbank. The ECB is deeply Latin now. And it is doing what all Latins do in a crisis: print money.

IIf you only have to look at one chart this week, let it be the one on this page (chart one). It shows how Europe and Ireland have become cash economies because bank lending has collapsed. This slump in bank lending is why the European Central Bank (ECB) introduced revolutionary measures last Thursday. These new moves by the ECB may have a significant positive impact on our economy in the years ahead, because they will...

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