King World News weekly – Jan 22, 2015
“Eric King: Egon, the ECB has just announced this 1.1 trillion euro package in a desperate attempt to fight off deflation.”
Egon von Greyerz: “These decisions by the central banks have virtually no impact whatsoever on the underlying economy over the longer-term. They did what they had to do because the European banking system as well as the economy is in dire straits.
Central banks still believe that by printing money they can kick-start their economies and save the financial system. That’s not the case. There is no chance whatsoever to change the outcome of an indebted and bankrupt European economy….