You'd thought I'd forgotten about this. But I haven't. Here's the latest news from disaster ridden Spain, where tight money on the part of the ECB continues to wreak unfathomable havoc. Check it out.
Europe needs monetary expansion NOW NOW NOW and for the foreseeable future, i.e. until unemployment comes down, real incomes expand, and growth resumes. Full stop.
But the Boys from
Brazil Frankfurt still see no problem. Nice going Draghi.