×
ECR

Quantitative easing kicks the Eurozone can further down the long road

22 January 2015

Quantitative easing kicks the Eurozone can further down the long road

European Central Bank quantitative easing is an experiment with more risks than benefits. The major risk exists in Member states putting off the critical reforms needed to make European economies more competitive, ECR MEP from Belgium Sander Loones, has warned.

European Central Bank quantitative easing is an experiment with more risks than benefits. The major risk exists in Member states putting off the critical reforms needed to make European economies more competitive, ECR MEP from Belgium Sander Loones, has warned.

Mr Loones, the Vice-President of the European Parliament’s economics committee, says the problem is not a lack of supply of credit, but a lack of trust to invest in a non competitive economy.

He said:

“We are not going to solve the Eurozone crisis by printing money. At best this buys time but it stores up many problems that will come back to bite us. Cheap credit is not a problem in Europe, partly because of previous actions of the ECB to inject liquidity into the market. It only risks putting off the tough decisions that governments and people across Europe have to make in order to regain competitiveness and promote investment.

“QE has been deployed in other countries, but that does not make it the right answer for the euro. Even more surprising is the fact that the ECB is calling the shots, and not democratically accountable politicians. In this way technocrats are effectively introducing transfers from one part of the Eurozone to another.

“This is not an abstract debate, it touches real people’s lives”, Loones continues, “People’s savings will be hit at the expense of the wrong kind of risk-taking in the financial sector. We have to ask where this money will go and I fear it might not trickle down to the real economy. It might inflate a big bubble that we could live to regret.

“The Eurozone cannot duck the tough decisions, and this is just another exercise in kicking the can down an already long and troubled road.”

SHARE

ECR

OUR TWEETS

ECR Group

2 hours ago

📢 ECR MEP @j_wisniewska is co-chairing the @PressACP#EU Joint Parliamentary Assembly Youth Conference, highlightin… twitter.com/i/web/status/1…

Beata Szydło

5 hours ago

During a meeting with MEPs, representatives of the EC & the companies producing vaccines cannot find an answer to t… twitter.com/i/web/status/1…

ECR Group

5 hours ago

We need effective, results-driven actions, not further promises and reassurances. #Europe and its citizens can no l… twitter.com/i/web/status/1…

ECR Group

5 hours ago

When will you meet production expectations, @AstraZeneca? People are waiting. We need a delivery schedule for Q2.… twitter.com/i/web/status/1…

ECR Group

5 hours ago

Pharmaceutical companies have to do their best. Not only to increase production capacity as quickly as possible, bu… twitter.com/i/web/status/1…

ECR Group

5 hours ago

The approval process for the @Novavax #vaccine has been faster in the #UK than in the #EU, as it has been with othe… twitter.com/i/web/status/1…

ECR Europe's Future

11 hours ago

TOMORROW | 18:00 CET Join us as we lay bare a bold alternative for the #FutureofEurope. #CoFoE 🎟️ #Europe’s Futu… twitter.com/i/web/status/1…

ECR Group

12 hours ago

➡️@MichelBarnier's suggestion to #EU ambassadors yesterday speaks volumes. #Brexit happened because "regular peopl… twitter.com/i/web/status/1…

ECR Group

yesterday

Deeper #EU-#US ties would be a positive thing: Setting global standards; and a joint approach to #China. But we ne… twitter.com/i/web/status/1…

ECR Group

yesterday

"If the #EU is to survive & ensure the trust & cooperation of Member States, then it needs to identify & accept the… twitter.com/i/web/status/1…





© 2020. All rights reserved. European Conservatives and Reformists Group