, Columnist
EU Fiscal Stimulus Is Just a Rule Change Away
Europe's accounting rules discourage investment. Private sector principles provide a way forward.
He's done his part.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
The European Central Bank is expected to extend its quantitative easing program further during the meeting of its governing council this week. The irony is that while the ECB has various options for continuing a program that isn't working, national governments have relatively few options for embarking on one that most agree is sorely needed. As Mario Draghi and others have said on multiple occasions, the ECB cannot deliver on its own. It needs governments to use fiscal levers to help stimulate spending and growth.
QuickTake Europe's QE Quandary