Ferdinando Giugliano
As soon as Mario Draghi took the reins of European Central Bank from Jean-Claude Trichet, the bank ordered a large-scale asset purchase programme to soothe fears of an euro collapse. Photo: Bloomberg
There is no better way to silence critics than by coming up with theories that work. Photo: Reuters
The EU also needs what it can’t bring itself to create right now: joint guarantee on deposits. Photo: Bloomberg
In economist Milton Friedman’s view, central banks cannot reduce the long-run rate of unemployment at which an economy operates (the ‘natural rate of unemployment’). Photo: AFP