Most eurozone countries pay high price for membership – study
Central Bank of Iceland research finds smaller states would be better off setting rates independently
Twelve of the eurozone’s 20 member states could reduce their “expected losses” from quantitative easing (QE) and other monetary policy decisions by more than 50% if they set rates independently, new research finds.
The paper, by Bjarni Einarsson and published by the Central Bank of Iceland, finds that decisions by the European Central Bank (ECB) were often suboptimal for the bloc’s smallest members.
The ECB’s target guidance and QE instruments should have been used to “lower both the slope of the
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