Ewald Nowotny comments via Die Presse
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Additional public investment is needed
– Helicopter money is out of the question for the ECB
– Had the ECB not acted we would have tipped into deflation
I’ve swapped over the headline as this one is the big news. It’s the first time an ECB member has said that ECB policy won’t work, and that’s something coming from Nowotny. The Euro has dipped because that’s bad news.