Continente moribundo

By now all of our readers, if not so much the ECB (even though we know they read us religiously too), are aware that the biggest problem in Europe is the continent's moribund, and record low, credit creation courtesy of a clogged monetary transmission pipeline which has resulted in a -2% "growth" in loans to the private sector, which as monetarists (and certainly Austrians) everywhere know is the necessary (if not sufficient) condition to stimulate inflation in a continent drowning in deflation..." ( Zero Hedge). Refere a conversa de Draghi que não leva a lado nenhum, a inoperância da Europa que está prestes a "libertar" o pior da dívida que foi a razão pela qual se encontra numa depressão já com anos.