Please note:
You are in the euro|topics archive. For current articles from the European press review, please go to

Home / Who's saying what / Who's saying what

The spectre of deflation

Fears of deflation are spreading in the Eurozone. The ECB has moved away from its prudent monetary policy and yet again cut the benchmark interest rate to an all-time low. Will the cheap money bring the desired upturn?

Neue Zürcher Zeitung - Switzerland | Wednesday, 1. April 2015

ECB spread fears of deflation prematurely

According to a report published by EU statistics agency Eurostat on Tuesday, prices in the Eurozone dropped only minimally in March. The liberal-conservative Neue Zürcher Zeitung sees this as evidence that the warnings of deflation were exaggerated, along with Mario Draghi's quantitative easing policy: » more

L'Echo - Belgium | Wednesday, 4. March 2015

Belgium countermands ECB policy

The Belgian government on Friday passed a draft law which suspends automatic adjustment of wages to inflation. Right after the weekend the liberal governing MR party then called for the introduction of rent control. These measures directly oppose the goals of the ECB, the liberal business paper L'Echo criticises: » more

Corriere del Ticino - Switzerland | Saturday, 21. February 2015

The world is drowning in debt

Global debt has hit a new high, totalling roughly 50 trillion euros more than at the start of the financial crisis in 2007, according to the latest study put out by the McKinsey Global Institute. The next crisis is just a matter of time, the liberal daily Corriere del Ticino fears: » more

Financial Times - United Kingdom | Sunday, 18. January 2015

ECB must start with big bond-buying programme

The European Central Bank (ECB) will decide this Thursday how much money to pump into the markets, and in what way. The ECB should buy bonds on a large scale right from the outset, columnist Wolfgang Münchau urges in the liberal daily Financial Times: » more

Main focus of Thursday, 15. January 2015

ECJ signals approval for ECB plans

The European Central Bank may purchase government bonds under certain conditions, according to an opinion published Wednesday by the attorney general of the ECJ. The ... » more

Il Sole 24 Ore - Italy | Thursday, 15. January 2015

ECJ ruling an important turning point

The ruling paves the way for the ECB to implement new, unconventional measures, the liberal business daily Il Sole 24 Ore comments joyously: » more

El Mundo - Spain | Thursday, 8. January 2015

Draghi will wait for election in Greece

The inflation rate in the Eurozone dropped below zero in December for the first time in five years, Eurostat announced on Wednesday. But ECB chief Mario Draghi will wait until after the Greek elections to react, the conservative daily El Mundo believes: » more

Corriere della Sera - Italy | Friday, 2. January 2015

Deflation and stagnation are 2015's purgatory

Europe won't recover economically in 2015, Alan Friedman fears in the liberal-conservative daily Corriere della Sera: » more

Il Sole 24 Ore - Italy | Wednesday, 19. November 2014

Reforms in exchange for monetary easing

The head of the European Central Bank, Mario Draghi, announced further monetary measures on Monday to stimulate the economy and boost the low inflation rate in the Eurozone. The measures could include bond purchases, Draghi said to the Economic and Monetary Affairs Committee of the European Parliament. Draghi's flood of money will not come for free, the liberal business paper Il Sole 24 Ore explains: » more

Main focus of Friday, 5. September 2014

Draghi unexpectedly cuts interest rates

The ECB cut its benchmark interest rate on Thursday to a new record low of 0.05 percent and approved an asset purchase programme worth billions. ... » more

La Razón - Spain | Friday, 5. September 2014

Ball is in the court of Paris and Rome

The ECB's lowering of the base interest rate must be accompanied by reforms in struggling Italy and France, the conservative daily La Razón urges: » more

Der Standard - Austria | Friday, 5. September 2014

Global economy a huge house of cards

The ECB is helping to turn the global economy into a house of cards that will sooner or later collapse, the left-liberal daily De Standard warns: » more

Financial Times - United Kingdom | Wednesday, 3. September 2014

ECB bond-buying would be detrimental

At the meeting of the ECB's governing board today, Thursday, the guardians of the single currency will decide whether to buy government bonds to prevent stagnation and deflation in the Eurozone. This so-called quantitative easing would only aggravate the crisis, Michael Heise, chief economist of the Allianz Group, argues in the liberal daily the Financial Times: » more

De Volkskrant - Netherlands | Tuesday, 26. August 2014

Draghi's call can curb recession

ECB President Mario Draghi has spoken out in favour of increased lending, government stimulus programmes and a shift away from austerity. That makes perfect sense, the left-liberal daily De Volkskrant comments: » more

Trends-Tendances - Belgium | Tuesday, 8. July 2014

Central banks' monetary policy has failed

The Dow Jones Stock Index crossed the historic mark of 17,000 points for the first time last week. But while the indexes are breaking record after record the real estate and art markets are overvalued, experts say. The monetary policy pursued by the central banks is backfiring, the business magazine Trends fears: » more

Dienas Bizness - Latvia | Thursday, 26. June 2014

Deflation can be good for Latvia in short term

The most recent figures put out by the Central Statistical Bureau of Latvia show that industrial producer prices fell in May for the first time since 2010. The business paper Dienas bizness believes that could be a good thing at least in the short term: » more

Corriere del Ticino - Switzerland | Friday, 13. June 2014

ECB's cash injections addictive

The ECB's move to cut the benchmark interest rate and introduce a penalty interest rate last week was not the right means to boost the economy, the liberal daily Corriere del Ticino comments and proposes a different approach: » more

Blog David McWilliams - Ireland | Monday, 9. June 2014

ECB breaks with the taboo of inflation

ECB chief Mario Draghi's lowering of the benchmark interest rate last Thursday marks the much needed end to the German dogma of avoiding inflation at all costs, economist David McWilliams concludes in his blog: » more

Main focus of Friday, 6. June 2014

Benchmark interest rate at new record low

The European Central Bank cut the benchmark interest rate to a historic low of 0.15 percent on Thursday in a bid to prevent deflation. In ... » more

Marianne - France | Thursday, 5. June 2014

Raising salaries better than cutting interest

A completely different approach is needed in the fight against deflation, the liberal weekly Marianne believes: » more

El País - Spain | Thursday, 5. June 2014

ECB must bring out Bazooka

The European Central Bank will announce the results of its council meeting today, Thursday. It must further relax its monetary policy in the interest of investors and citizens alike, the left-liberal daily El País warns: » more

Neue Zürcher Zeitung - Switzerland | Wednesday, 4. June 2014

Zero interest better than micro-inflation

The inflation rate in the Eurozone was just 0.5 percent in May. But the liberal-conservative Neue Zürcher Zeitung still doesn't think it's a good idea for the European Central Bank to lower the base interest rate at its meeting on Thursday: » more

Jornal de Negócios - Portugal | Wednesday, 28. May 2014

ECB shouldn't give up inflation target

At a European Central Bank conference in the Portuguese town of Sintra on Monday, US economist Paul Krugman warned of the risk of deflation and urged the Europeans to ease their monetary policy. The liberal business daily Jornal de Negócios disagrees: » more

Libération - France | Tuesday, 20. May 2014

ECB must react to criticism of euro

The Eurosceptic voices in the European elections must be heeded and the ECB must ease its monetary policy, the left-liberal daily Libération demands: » more

Financial Times - United Kingdom | Sunday, 18. May 2014

ECB bond-buying comes to late

The ECB is considering among other things buying government bonds from euro states to combat the too low inflation rate. It had already announced such a measure in early April but nothing has happened so far. This quantitative easing (QE) will come far too late anyway, columnist Wolfgang Münchau writes in the liberal Financial Times: » more

El País - Spain | Tuesday, 6. May 2014

Unequal growth divides Europe

The economy of the 18 Eurozone states is growing slower than expected. In its economic forecast published on Monday, the European Commission predicted 1.7 percent growth for the coming year. Above all the division within the Eurozone is a worrying factor, the left-liberal daily El País writes: » more

Financial Times - United Kingdom | Monday, 14. April 2014

Unnecessary panic-mongering over deflation

In recent weeks calls have increased for the ECB to do more to counter the threat of deflation in the Eurozone. But warnings of dropping price levels are just undue pessimism, the former chief economist at the ECB, Jürgen Stark, writes in the liberal business paper Financial Times: » more

Les Echos - France | Monday, 14. April 2014

Draghi pushes politicians to fight deflation

ECB chief Mario Draghi announced on Sunday at the Spring Meetings of the IMF and the World Bank that he will resolutely fight deflation in the Eurozone. The first head of the ECB to directly address the issue of the euro exchange rate, Draghi has sent out a dual message, the business paper Les Echos writes: » more

Der Standard - Austria | Friday, 11. April 2014

A rude awakening ahead

It's not surprising that investors are even buying Greek government bonds considering the current low interest rates - but the country won't benefit at all from this speculation, the left-liberal daily Der Standard warns: » more

Alternatives économiques - France | Tuesday, 8. April 2014

Paris economically powerless

France's new Prime Minister Manuel Valls won a vote of confidence in the National Assembly by a clear margin on Tuesday. In his policy statement he had endorsed the course adopted by President François Hollande in French economic policy. But France can't get its economy back on its feet alone, the left-leaning monthly magazine Alternatives économiques warns: » more

Maaseudun Tulevaisuus - Finland | Monday, 7. April 2014

Finland, too, can take action against deflation

Despite warnings of deflation, the ECB kept the key interest rate at its all-time low last week. The liberal daily Maaseudun Tulevaisuus complains that the Finnish government's tax policies also raise the risk of deflation: » more

Avvenire - Italy | Friday, 4. April 2014

A more expansionary monetary policy needed

Unlike the US central bank, the Fed, the ECB is remaining passive and thus risking further deflation, the daily newspaper Avvenire criticises: » more

Lost in EUrope - Belgium | Thursday, 3. April 2014

To the European elections in a sleeping car

As always before important elections, the ECB hasn't budged its key interest rate, Eric Bonse criticises in his blog Lost in Europe, fearing a rude awakening in the summer: » more

El Periódico de Catalunya - Spain | Friday, 4. April 2014

Draghi fighting for the markets' trust

With its wait-and-see approach the ECB wants above all to demonstrate its independence, the left-liberal daily El Periódico de Catalunya comments: » more

The Irish Times - Ireland | Wednesday, 2. April 2014

ECB must fight off ogre of deflation

The ECB's governing council will convene in Frankfurt today, Thursday, to discuss the further easing of its monetary policy. This is the only alternative because otherwise the Eurozone will face the same kind of stagnation that has affected Japan, the left-liberal daily The Irish Times warns: » more

La Vanguardia - Spain | Tuesday, 1. April 2014

ECB must get serious on fighting deflation

The inflation rate in the Eurozone fell in March to its lowest level since November 2009, according to Eurostat. The ECB must react, the conservative daily La Vanguardia demands: » more

Jutarnji list - Croatia | Monday, 3. March 2014

Common European monetary policy impossible

The gap between the rich North and the poor South is growing ever wider in the EU and facing the Union with the financial-political dilemma of inflation or deflation, the liberal business daily Jutarnji List comments: » more

The Irish Times - Ireland | Tuesday, 4. February 2014

All-powerful ECB must be subject to control

Economists have repeatedly warned in recent weeks of the danger of deflation in the Eurozone. Against this background it is worrying that those in charge at the ECB need not fear any repercussions for wrong decisions, columnist Chris Johns complains in the left-liberal daily The Irish Times: » more

Die Tageszeitung taz - Germany | Wednesday, 29. January 2014

German adviser's visit to Paris a bad omen

The French and German media are speculating about the possibility of President François Hollande hiring German labour market reformer Peter Hartz as an advisor. Hartz made a visit to the Elysée Palace in December, and will travel to Paris again this week. The fact that France appears to be trying to emulate Germany is a bad omen, according to the left-leaning daily taz: » more

Il Sole 24 Ore - Italy | Friday, 10. January 2014

ECB ignores doves and hawks of monetary policy

Despite mini-inflation and weak economic growth, the European Central Bank (ECB) has said it won't take any further measures to boost the economy for the time being. The ECB council decided on Thursday to leave the base interest rate in the Eurozone at its current record low of 0.25 percent. The liberal business daily Il Sole 24 Ore sees this as a good compromise: » more

The Daily Telegraph - United Kingdom | Thursday, 9. January 2014

Europe hasn't solved any of its problems

Ireland has exited the bailout programme and the Eurozone's newest member Latvia has the fastest growing economy in the EU. This is a clear demonstration that Europe's aid programmes work, said EU Commission President José Manuel Barroso on Wednesday at the celebration marking the launch of Greece's EU Council presidency. The conservative daily The Daily Telegraph counters: » more

Les Echos - France | Friday, 10. January 2014

Take the lead from optimistic investors

The successful return of Ireland to the financial markets and the favourable terms with which Spain and Italian can now finance their national budgets are indeed grounds for optimism, the liberal business paper Les Echos contends: » more

Le Soir - Belgium | Thursday, 2. January 2014

Recovery well timed for dithering EU

The economic recovery expected this year comes just in the nick of time for Europe's politicians, since they still refuse to draw the lessons from the crisis, the liberal daily Le Soir complains: » more

Spiegel Online - Germany | Friday, 15. November 2013

Merkel's policy to blame for low interest rates

The European Commission launched an investigation into Germany's excessive export surplus on Wednesday. Germany is suspected of having exacerbated the imbalances in the Eurozone. Shortly before that, the European Central Bank lowered its interest rates. Berlin is to blame for both developments, columnist Wolfgang Münchau writes in the news portal Spiegel Online: » more

The Irish Times - Ireland | Thursday, 14. November 2013

A success story for the austerity politicians

Ireland's full return to the financial markets is the success story EU leaders urgently needed to justify their austerity policy, the left-liberal daily The Irish Times comments: » more

Jornal de Negócios - Portugal | Wednesday, 13. November 2013

Portugal needs higher inflation in Europe

A drop in prices has caused Portuguese economists to warn of a deflation spiral. The Eurozone as a whole would profit from a higher rate of inflation, the liberal business paper Jornal de Negócios writes: » more

Handelsblatt - Germany | Friday, 8. November 2013

Draghi continues controversial euro rescue

Mario Draghi's argument that the ECB must prevent deflation is merely a pretext to justify the controversial euro bailout policy, the liberal business paper Handelsblatt writes: » more

The Daily Telegraph - United Kingdom | Saturday, 2. November 2013

Strong euro harms Southern Europe's economy

The euro is at its highest exchange rate against the dollar in the last two years. Germany may benefit from the rise in value but it's disastrous for the countries of Southern Europe and their export businesses, the conservative paper The Daily Telegraph writes: » more

Financial Times - United Kingdom | Thursday, 31. October 2013

Germany too fixated on exports

In its latest annual currency report the US Treasury criticises Germany's economic policy for being too fixated on exports and therefore bringing Europe's economy out of balance. The conservative daily the Financial Times agrees: » more

The Times - United Kingdom | Wednesday, 18. September 2013

Fed should start turning off the money tap

It would have been better for the long-term development of the US economy if the Fed had taken the first steps toward ending its expansive monetary policy, the conservative daily The Times contends: » more


© Bundeszentrale für politische Bildung


Further articles on the subject » Euro, » ECB, » Economic situation, » Europe
More from the press review on the subject » Euro, » ECB, » Economic situation, » Europe

Other content