Friday, January 6, 2012

Good News From The ECB

The cause of more pro-growth policies from the European Central Bank seems to have scored another victory, as new bank chief Mario Draghi has appointed Peter Praet, described as a pragmatist on inflation issues, to head up the Economics division. Praet replaces stereotypically inflation-obsessed German J├╝rgen Stark, who objected to the ECB's bond-buying program.

With American economic numbers ticking slightly upward, one major danger is that collapse in Europe will bring everything back down. Democrats hoping to do well in the 2012 election should be rooting for pro-growth forces in Europe to defeat the people who want to use recession to fight inflation, with no concern for jobs. Replacing Jean-Claude Trichet with Mario Draghi seems to have been a positive step in that regard, and we can hope that Draghi keeps the good news coming.

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