By John Smith • 12 November 2020 • 17:08
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”.
It is now down to the European Central Bank to make some swift decisions including additional Quantitative Easing.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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