Easy Money Won't Cure EU's 'Depression'

The earth’s core was exposed this week – it’s called the world’s central banks. The European Central Bank, the People’s Bank of China and the Bank of England all unveiled easier monetary policies of one kind or another. Denmark, which is not a member of the eurozone, actually announced that its central bank would offer a negative interest rate – a first in history. All of these moves are intended to make money cheaper and encourage bank lending to businesses, households, and other financial institutions.