08 May 2014

EIM Economic - April 2014

• All three major international forecasters (Commission/OECD/IMF) agree that Europe/eurozone is on a path to economic growth, especially for programme states – but deep-seated problems remain and structural reforms are necessary.

• A thoughtful analysis of communicating monetary policy by ECB President Draghi highlighted the difficulties in guiding expectations during a period of 'lowflation' – and underlining the risk of further impairment of monetary policy channels that might require unconventional responses.

• The FTT debate took another turn when the UK challenge at the ECJ was ruled out on the grounds that there was not yet a policy proposal – and the chance of that remain low as the proponents cannot even agree on what transactions should be taxed and who should receive the revenue. 

Full a rticle

© Graham Bishop