QE alone can’t solve Europe’s problems

Economist Nouriel Roubini said Draghi’s QE program alone won’t be enough.

“The risk is that we’re going to have a triple-dip recession,” Roubini said. “The problem in Europe is aggregate demand — you need to do monetary and fiscal stimulus.”

With QE, what Draghi would achieve is buying more time for European governments to press ahead with economic reforms, according to Axel Weber, chairman of UBS and former president of the Bundesbank, Germany’s central bank.

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