by Clément Fontan & Stanislas Jourdan
This article was first published on socialeurope.eu
In its annual report, the European Central Bank clearly acknowledges that its ‘quantitative easing’ (QE) program has increased the richest citizens’ wealth. Yet the ECB claims that this is not its concern.
Since the inception of QE in the Eurozone, it has been clear that such a program would not only have limited effects on growth and inflation but would also carry important unintended consequences, including a rise in wealth inequality.