He added that the ECB’s failure to reach its 2 per cent inflation target had resulted in a ‘musical chairs’ problem, where there is not enough money circulating in the Eurozone to match people’s wage demands, in turn resulting in ‘unprecedentedly’ high unemployment in many Eurozone countries.
‘Once, economists warned that Europe faced a Japan-style “lost decade” of unemployment and economic stagnation. That now seems like wishful thinking: because the ECB has kept money so tight and so much wealth has been lost, the Eurozone is likely to be in extremely bad shape for many years to come,’ Bowman said.
‘If the ECB was really willing to do “whatever it takes” to reach its inflation target, including quantitative easing, it could bring the Eurozone back to growth. The eurozone has needed easier money for years now; now that Germany does too, it may finally see it.’
A new report from the Adam Smith Institute – “Sweet FA – Why foreign player crackdowns hurt English football” – is featured in The Daily Telegraph.
Greg Dyke’s plan to cap the number of foreign players in English football has been denounced by The Adam Smith Institute, which claimed there was “practically no relationship whatsoever” between that and the performance of the England team.
A report by the influential think tank also warned that artificially limiting the amount of overseas talent in the Premier League would harm its clubs’ ability to compete in the Champions League and Europa League.
One of the key recommendations of Football Association chairman Dyke’s commission on English football this summer was a limit on the number of non-European Union players in the English game, which, it was claimed, would increase the number of England-qualified footballers.
The received wisdom has been that a bigger domestic talent pool is the panacea to the national team’s travails at major tournaments, a view directly challenged by research conducted by the Institute’s head of policy, Ben Southwood.
Read the full article here.
The report, written by ASI Head of Policy Ben Southwood, finds that the Football Association’s plan to crack down on foreign players in the Premier League would damage the league’s quality and success in European club competitions, without any benefit to the English national team’s performance.
Read the full report here: “Sweet FA – Why foreign player crackdowns hurt English football”