Luigi Zingales, Columnist

ECB Loosening Could Ensure Italy’s Fiscal Rigor: Luigi Zingales

January 19, 2012 at 12:01 AM UTC

Luigi Zingales is a finance professor at the University of Chicago Booth School of Business. He is the author of “Capitalism for the People” and co-host of the podcast Capitalisn’t.

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There is a time for everything, it says in Ecclesiastes, and a season for every activity. Now is the time for the European Central Bank to loosen its monetary policy.

With a liquidity facility providing 639 billion euros ($820 billion) to banks and an interest rate at 1 percent, one could argue that the ECB’s monetary policy could hardly be looser.