ECB Weighing the risks

Eurozone finance ministers have a good selfish reason to tell the European Central Bank not to be hasty in increasing interest rates. The current zero real interest rate is good for governments with big debt loads. That includes most of the eurozone. But what about their more altruistic argument, that higher rates might snuff out the nascent eurozone recovery? The risk is not that great. Low rates are really doing much for the current recovery. That’s because the strongest effect of hyper-low r...