The rickety export-led growth model faces another important threat : the euro 's dramatic appreciation . The ECB cut interest rates to a new record low in a bid to boost the economy . But it has also been accused of being too easy on banks and other financial institutions that have lent money at high rates. What is needed are policies addressed to borrowers and spenders , he writes .
The ECB cut interest rates to a new record low in a bid to boost the economy . But it has also been accused of being too easy on banks and other financial institutions that have lent money at high rates. What is needed are policies addressed to borrowers and spenders , he writes .