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The Nobel Joseph Stiglitz calls the ECB to follow the steps of the Federal Reserve creating liquidity

The Nobel economist Joseph Stiglitz has invited the European Central Bank (ECB) to adopt measures similar to those that have launched the US Federal Reserve to provide liquidity to the European economy and combat the recession in the European Union. "The commitment of Ben Bernanke (Federal Reserve Chairman) to buy mortgage debt and points the way forward for Europe, because the crisis has a long journey, in Europe and in the US", said Stiglitz. For the Nobel, the path taken by Europe to overcome the crisis is inefficient. "The European austerity accentuated social inequality and economic inefficiency", he considered.

Stiglitz has admitted this afternoon at the Royal Academy of Economics and Financial Sciences of Spain (RACEF) as Corresponding for the United States in a ceremony that was held this afternoon at CaixaForum in Madrid, where he presented his latest work, "The price of inequality". Has responded on behalf of the RACEF, its President, Jaime Gil Aluja. The act has opened the academic year of the Royal Academy.

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