Orphanides: ECB Tapering Not Appropriate Before 2018

The video discusses Mario Draghi's constraints in managing the ECB, focusing on the need for more aggressive monetary policy to meet inflation targets. It critiques the ECB's delayed QE implementation and explores the implications of tapering. The discussion includes a comparison of Cyprus and Italy's economic challenges, emphasizing the need for structural reforms and increased aggregate demand in Italy.

How has the ECB's balance sheet expansion been characterized in relation to inflation targets?

What lessons can Italy learn from Cyprus regarding economic crises?