Estonian governor tells MPs central banks cannot create long-term growth
Ardo Hansson says QE in the eurozone will help to improve confidence
Bank of Estonia governor Ardo Hansson laid the case for economic reform before the finance committee of the Estonian parliament this week, stressing central banks do not have the power to create long-term growth.
"The bank can boost an economy in the short term, but long-term growth can only come from increased productivity in the private sector and economic reforms from the government," he told the committee on February 17.
Hansson said the European Central Bank's asset-purchase programme could
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