The IMF has been encouraging, sometimes even forcing (as condition of assistance), countries to have their central banks focus only on inflation. Europe succumbed to these doctrines. Today, throughout Euroland, there is unhappiness as the European Central Bank pursues a monetary policy that, while it may do wonders for bond markets by keeping inflation low and bond prices high, has left Europe's growth and employment in shambles.
Joseph StiglitzRelated topics
assistance bank bond central condition employment encouraging european focus forcing growth high inflation keeping left low policy while unhappiness today shambles europe banks imfRelated quotes
Seventeen years after its intial release, The Empire Strikes Back is still as thrilling and involving as ever. Because of the high quality of the original product, it doesn't show a hint of dating. Neither [Star Wars Episode IV: A New Hope nor Star Wars Episode VI: Return of the Jedi] were able to match the narrative scope of Empire, which today remains one of the finest and most rousing science fiction tales ever committed to the screen.
James Berardinelli
We, the people, declare today that the most evident of truths –- that all of us are created equal –- is the star that guides us still; just as it guided our forebears through Seneca Falls and Selma and Stonewall; just as it guided all those men and women, sung and unsung, who left footprints along this great Mall, to hear a preacher say that we cannot walk alone; to hear a King proclaim that our individual freedom is inextricably bound to the freedom of every soul on Earth.
Barack Obama
What is called music today is all too often only a disguise for the monologue of power. However, and this is the supreme irony of it all, never before have musicians tried so hard to communicate with their audience, and never before has that communication been so deceiving. Music now seems hardly more than a somewhat clumsy excuse for the self-glorification of musicians and the growth of a new industrial sector.
Jacques Attali
The theory of economic shock therapy relies in part on the roleof expectations on feeding an inflationary process. Reining in inflation requires not only changing monetary policy but also changing the behavior of consumers, employers and workers. The role of a sudden, jarring policy shift is that it quickly alters expectations, signaling to the public that the rules of the game have changed dramatically - prices will not keep rising, nor will wages.
Naomi Klein
It is worth recalling that during the 1960s, and again in the 1970s, Britain's growth rate was the lowest of all the major European economies. By contrast, during the 1980s, our growth rate has been the highest of all the major European economies. This greatly improved growth performance has been accompanied by falling inflation, which at 3½ per cent. in 1986 reached the lowest figure for almost 20 years.
Nigel Lawson
