Former BIS chief economist warns that QE in Europe is doomed to failure and may draw the region into deeper difficulties
The economic prophet who foresaw the Lehman crisis with uncanny accuracy is even more worried about the world’s financial system going into 2015.
Beggar-thy-neighbour devaluations are spreading to every region. All the major central banks are stoking asset bubbles deliberately to put off the day of reckoning. This time emerging markets have been drawn into the quagmire as well, corrupted by the leakage from quantitative easing (QE) in the West.
Interview Daily Telegraph_220114.pdf
Interview Daily Telegraph_220114