Preparing for Europe’s Next Recession
In a recent interview, Peter Praet, the ECB's chief economist, explicitly noted that “all central banks” can print money and send checks to each and every citizen. But there are better ways to boost eurozone economic growth than resorting to so-called helicopter drops of money.
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PARIS – If you do not understand what is happening to the eurozone economy, you are not alone. One day we are told that growth is definitely passé; the next that recovery is on track; and the third that the European Central Bank is considering sending checks to all citizens to boost output and revive inflation. Rarely has the economic picture been so confusing.