If the ECB cuts rates it should do so boldly

ARTICLE - This article says the case for an ECB rate reduction this week is overwhelming. But any cut must be decisive otherwise it will have very little effect on the euro-zone economy. "If you are going to hit it, hit it hard."

First published in the UK edition of the Financial Times, 3 March. The writers, Daniel Gros and Ansgar Belke, are respectively, director of the Centre for European Policy Studies in Brussels and professor of economics at the University of Hohenheim.

If the ECB cuts rates

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