Once again, Europe is the sick man of the global economy. The ECB is opening the money channels, and the IMF wants more investment. But none of that can replace the necessary structural reforms, says DW’s Rolf Wenkel.
The annual meeting of the International Monetary Fund and the World Bank demonstrated it once again: Europe is the problem child of finance ministers and central bank governors of all 188 member nations. But what prescription to give the ailing patient is still the subject of plenty of arguments – some of which are played out in front of the camera, some behind closed doors.
Mario Draghi, the head of the European Central Bank, is currently trying out the plan proposed by the American Federal Reserve: Stimulate the economy by driving interest rates down close to zero and buying up bonds. But a number of economists think that’s the most dangerous option.
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Source News: dw.de