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Quantitative Easing versus Austerity – which one wins?
international |
anti-capitalism |
opinion/analysis
Thursday November 11, 2010 23:44 by Luke Eastwood
Two very different methods are being employed to deal with continuing recession and debt, with possible dire consequences for the world economy. The recent decision by the US Federal Reserve to print an extra 600 billion dollars has sent shock waves through Europe and Asia. Meanwhile Ireland is set to slash 6 billion euro in its December budget – an attempt to reign in the national deficit. America’s quantitative easing strategy strongly conflicts with Europe’s solution to deficit (austerity) and begs the question who is making the wrong decision, who is going to emerge the winner? |
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