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ECB set to consider new economic tools

The European Central Bank (ECB) has today confirmed that a number of new economic tools are under consideration to try and reverse the downward spiral of the European and global economies. However, it appears as though there is significant disagreement between the various EU partners as to the correct route which should be taken and how initiatives should be funded.

European base rates have fallen to levels never seen before and with the limited impact of further reductions here on in, it is time to look elsewhere. However, while the ECB has taken charge of the situation up to date there is a concern that there is no one European Treasury department able to control and dictate how funding is injected into the system.

With the best will in the world, while each and every EU member would benefit from a general improvement in the EU economy overall, each and every government need to put their domestic economies first. So while we hear about suggestions coming from these various meetings of EU ministers, ultimately it will be a mixture of recovery in domestic economies which will then push forward the European economy. The situation is also complicated by the fact that different countries are at different stages of their economic cycles.

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