QE is no silver bullet Nov 6th 2014, 9:28 by Demosthenes Tambakis | University of Cambridge

''..Against a lacklustre GDP growth record since 2002 and a dismal one since 2008, I thus consider it highly improbable that QE can turn the tide. Even faced with a counterfactual such as “euro-zone austerity is expansionary” (on which there is scant empirical or theoretical support, particularly at the zero bound), it is hard to see how the euro will not weaken dramatically at some point before unravelling or shrinking to a core euro zone of 5-6 countries..''

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