VitalBriefing Editor-in-Chief Simon Gray discusses the worrying current state of monetary and fiscal policy in Europe.
Countries in the north and south of the continent are divided in opinion as to what they believe the role of monetary policy should be in stimulating the economy. Moreover, consensus cannot be reached regarding the fiscal rules governing participation in the euro, Europe’s single currency.
With both sides of the debate entrenched in their positions, US banks have been able to dominate global finance and even steal investment banking business from their European counterparts.
With the global economy facing a possible recession, how will Europe solve this inter-continental discord?