ECB’s quantitative easing: Hard pressure

Hard pressure – Joep Bertrams
De Groene Amsterdammer (Amsterdam)

European Central Bank (ECB) President Mario Draghi announced on 22 January an unprecedented bond-buying scheme to pump money into the eurozone and prevent deflation. Draghi said the ECB “decided to launch an expanded asset purchase programme” under which “the combined monthly purchases of public and private sector securities will amount to €60bn.” — over €1,000 billion in all. The quantitative easing programme involves central banks buying up government bonds to inject more money into the system and is “intended to be carried out until end-September 2016”.