Latest Issue

Britain cannot escape from Europe’s storm

QE might be creating a credit bubble

By Norman Lamont   March 2015

Two years ago, it appeared as though the eurozone’s problems might tear the single currency apart, leading Mario Draghi, President of the European Central Bank (ECB), to pledge to do “whatever it takes” to save the euro. His historic words were interpreted as heralding a European programme of quantitative easing (QE)—the process by which central banks “print” money to buy…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect