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user-inactivated · 3570 days ago · link · · parent · post: [48 HOURS] The best summary of Greece I've yet read, and I've read a few
Confused. The ECB began its own (quite a bit smaller) QE a few months after we did, as did the UK. I want to say the ECB continued that in some of the intervening years, and they definitely began a comprehensive program in January. Euro exchange rate collapse didn't spring from nothing. My guess is, in a better format she'd clarify that the type of QE we did and they did were different in practice in some way.The reason the US response was less bad than Europe’s is that we combined it with some fiscal stimulus, albeit not that much. By contrast, Europe has gone for austerity all the way.