Oh, Good: ‘Global Recession’ Tops Worry List In Closely-Watched Credit Survey

On Thursday, the ECB's Ewald Nowotny told Austrian magazine Trend that policymakers in Europe are now actively debating whether it's advisable to continue down the road to policy normalization. "Due to the cooling down, it’s being debated if this normalization should even continue", he said, adding that if you ask him, the normalization push "should have started already last year". Right. And as we and plenty of others have gently (or not-so-gently, depending on which "others" you're talkin