Fitoussi, Jean-Paul - Department of Economics, Sciences économiques - 2005
, during the run up to the euro. In fact, the ECB proved to be much more growth friendly than its predecessors. On the other … internalized by the ECB, that was less reactive than the Fed, and too focussed on current inflation. The tightening of monetary … helpful in fostering growth recovery in the euro area. The ECB did not fully recognise its new responsibility of conducting …