Weapon of Last Resort: ECB Considers Possible Deflation Measures
Speaking to gathered journalists at the Spring Meetings of the International Monetary Fund and the World Bank, Draghi twice almost uttered a word he has been at pains to avoid. "Defla…", Draghi began, before stopping himself and continuing with the term "low inflation." Yet despite Draghi's efforts, the specter of deflation was omnipresent in Washington during the meetings. And it is one that is making central bank heads and government officials nervous across the globe. The IMF in particular is alarmed, with Fund economists warning that there is currently up to a 20 percent risk of a euro zone-wide deflation.
Time for an EU energy union, says Polish PM
The European Union must create an energy union to secure its supply and reduce its dependence on Russian gas, Poland's Prime Minister Donald Tusk has said. Tusk's energy blueprint, set out in an article in the Financial Times on Tuesday (22 April), would establish a single European body that would buy gas for the whole 28-nation bloc.
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