“Excessive reliance on monetary policy and attempts to enrich the owners of property will not relieve the downward pressure on wages,” said Soros to a question from RT during a news conference in Davos. He says it’s too early to react to QE measures in Europe, but they will clearly deepen the crisis of trust between the rich and the poor.
The European Central Bank announced Thursday a €1.14 trillion ($1.3 trillion) quantitative easing program from March. The bank will buy government debt by monthly injecting €60 billion in public and private securities. The move is expected to drive inflation to the target of 2 percent and overcome a triple-dip recession in the eurozone.
READ MORE: ECB announces milestone €1.14trn ‘easy money’ program
The anti-poverty charity Oxfam released a report ahead of the Davos meeting this week, warning of the unprecedented economic inequality splitting the world apart.
The European Central Bank announced Thursday a €1.14 trillion ($1.3 trillion) quantitative easing program from March. The bank will buy government debt by monthly injecting €60 billion in public and private securities. The move is expected to drive inflation to the target of 2 percent and overcome a triple-dip recession in the eurozone.
READ MORE: ECB announces milestone €1.14trn ‘easy money’ program
The anti-poverty charity Oxfam released a report ahead of the Davos meeting this week, warning of the unprecedented economic inequality splitting the world apart.
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