European economy needs stimulus says Bank of Spain

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Oscar Arce
Oscar Arce Credit: Casa de América flickr

THE Bank of Spain chief economist, Oscar Arce, believes that the European economy needs more stimulus in December or there could be serious financial consequences.

He argues that a continued softening of prices is not just bad for Spain but for all members of the European Union and said in a recent statement “we are seeing an increase in the portion of goods whose prices are increasing very little or falling, which is an indication of the risk”.

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It is now down to the European Central Bank to make some swift decisions including additional Quantitative Easing.

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