When the European Central Bank (ECB) on January 22 launched its long-expected expansion of its quantitative easing (QE) program, the world markets looked on with hopeful eyes. Seeking to spur growth and raise European inflation to around 2 percent, the ECB’s plan is simple. Every month starting in March 2015, the ECB will buy approximately […]
Greek Debt
The Politics of Public Debt
Greece’s entry into the Eurozone in 2001 was heralded as a victory for the European community. The creation of the euro represented the culmination of post-war European cooperation, and an expansion to Greece proved that that Europe’s goal of centralized economic planning could be successfully exported. For Greeks as well membership in the Eurozone cemented […]