From the Economist: Care package - Spooked by slowdown, the ECB rolls out stimulus - excerpt: In a way, the above is good news for the EU, which is presently assaulted by two demons. One being the elected reactionaries from ex-Communist countries and the other being the Great Recession that is still lingering here. What the "yellow jackets" in France do not understand is that the Maastricht Treaty, which brought about the Euro, stipulated clearly that there were national-debt level limits that should not be passed. Of course, given the magnitude of the Great Recession, they were indeed passed and often to a very great extent (as in the southern countries). But I doubt seriously that head of the EC Central Bank would have been able to make his announcement had Germany not given Draghi the Green Light. After all, during this Great Recession that also hit Europe, it was Germany that recovered quickest and, in turn, was able to lend to the Central Bank at least part of the funds necessary to re-lend them onward to EU member countries. We shall see how that works out to restart the EU-economy ...
