By David Scott | Monday 14 March 2016
Whether Mario Draghi’s latest barrage of stimulus works or not, the European Central Bank president made one thing clear on Thursday, he won’t be the one to clean up afterward as ultra-low interest rates are locked in until after the Italian retires in 2019.Economic growth rates are falling toward zero And at zero, it normally doesn’t make sense for the business community as a whole to borrow as the growth it expects will be less than the interest it will have to pay, but A person who lends at a negative rate must believe that the future is more certain than the present. The problem that many people have is that they think that 2008 was 'the event' and that it cleared the way and we’re back to a sustainable path, but nothing could be further from the truth.
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