European policy makers at odds as eurozone’s economic woes deepen

European policy makers at odds as eurozone’s economic woes deepen

Press quote (Wall Street Journal)
14 October 2014
"The ECB’s position has been made much harder by the eurozone employing pro-cyclical fiscal policies" of spending cuts and tax increases that have weighed on growth, said Simon Tilford, deputy director of the Centre for European Reform, a nonpartisan London think tank.

The politics preventing a coherent eurozone policy effort "look formidably difficult," he said. "If they don’t act, we’re looking at another eurozone recession, and beyond that a long stagnation, rising debt ratios and worsening deflation pressures."