IREF Europe - Institute for Research in Economic and Fiscal issues

Fiscal competition
and economic freedom


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Fiscal competition and economic freedom
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January’15 Financial & Fiscal Features Newsletter
ECB QE? Will banks avoid Russia?

Only two countries remain opposed to QE, although even they realise that measures about to be implemented are QE in all aspects but the name. Meanwhile, ground is being prepared for ECB to shift blame if “unconventional stimulus” ends up not working.
— -
Russian sanctions work. Or so we are led to believe. However, it would be a mistake to underestimate the preparedness of EU banks (and bankers) to sidestep official sanctions and participate on the market. After all, Russia’s collateral may be sounder than that of EU governments…

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"Financial and Fiscal Features" Newsletter is a monthly publication by the IREF. It brings latest inside information from the world of central banks and financial markets, both of which are increasingly intertwined with fiscal issues.

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