Lagarde, ECB Confront Double-Dip Recession As Europe Plunges Back Into Lockdown

While explaining France's new coronavirus lockdowns, Emmanuel Macron was unequivocal in dispelling the notion that there are easy fixes for the worst public health crisis the world has seen in a generation. "There’s no magical solution," he said. That's bad news for Christine Lagarde and the ECB. In the post-financial crisis world, monetary policy garnered a (dubious) reputation for offering silver bullets, elixirs, and sundry cure-alls, to a world that desperately needed real economic solut