The European Central Bank turned on the money printing machine today to stave off a slowdown in growth on The Continent. In doing so, the bank blamed ‘populists’ (read people looking out for themselves and not the elites in Brussels) for low economic activity and pledged to keep interest rates where they are for the time being.
ECB President Mario Draghi described in a briefing to reporters a “sizable moderation in economic expansion that will extend into the current year.
“The persistence of uncertainties related to geopolitical factors, the threat of protectionism and vulnerabilities in emerging markets appears to be leaving marks on economic sentiment,” Draghi stated at a press conference
Draghi reduced growth estimates to just above 1% and announced billions in new loans (read printing money) for European banks in a restart of the famous quantitative easing the bank had declared it ended.
It seems the globalist model of ignoring the middle class and importing migrants to destroy Europe’s culture and security is not driving economic growth. Who would have thought?
Those ‘populists’ have so much power. I’m sure it has nothing to do with socialist policies that destroy economic incentive.