The ECB’s theory of quantitative easing is put to the test

Time will tell whether the European Central Bank’s (ECB) €1.1 trillion quantitative easing (QE) package will have the desired impact on the real economy. Beating deflation is the paramount objective – how many times does the ECB have to reiterate its explicit mandate of maintaining price stability? Raising…

European leaders relieved after Scotland rejects independence

European officials have expressed unconcealed relief at Scotland’s vote against independence from Britain. In Brussels, the European Commission said the Scottish vote was good for a “united, open and stronger Europe”. EU Commission President Jose Manuel Barroso said that “The European Commission welcomes the fact that during the…