Central banks not doing real QE; Auerback: Grexit still possible
Greek voters have handed power to the anti-austerity Syriza party following six years of deep recession. With some 25 percent of Greeks jobless and a quarter of all households living close to the poverty line, Erin weighs in. Marshall Auerback, director of institutional partnerships at the Institute for New Economic Thinking, tells us what Syriza’s win means for Europe and gives us his take on whether Greece should default or leave the eurozone. Richard Werner from the Centre for Banking, Finance and Sustainable Development at the University of Southampton talks about how central banks work and how the term ‘quantitative easing’, which he coined in the early 1990s, has been wrongly interpreted and executed over the last decade. And in The Big Deal, Erin and Edward Harrison continue the discussion on Greece.
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