Invited to the Summer of MEDEF, the German Finance Minister Wolfgang Schäuble, outraged by the French wages decidedly too high, has come in his 17th Land in order to provide its guidance. And even if the ship capsized and Europe that we become the laughingstock of the world, as illustrated by the latest cover of the weekly "The Economist", having achieved a photomontage including Angela Merkel, Hollande standing on a boat made from a twenty euro visibly sinking, and having no regard for Mario Draghi who is desperately trying to bail to avoid sinking.
After all, honor is not it except with an inflation rate of 0.4% for the month of July? That is to say below the allowed maximum of 2% threshold, as proudly announces the latest bulletin of the ECB. That Schäuble, Merkel and Hollande are therefore fear the ECB will not take any drop of quantitative rates. For the simple reason that today - in September from 2014, no further program of money creation would now be able to save that Europe flowing pic! A further easing of monetary policy would certainly have a positive impact on new lending. However, European consumption remains anemic - even more receding due to near-zero inflation - will neutralize all the beneficial effects of these hypothetical reductions quantitative rates.