Mr. Dan O'Brien:

There is a fiscal aspect to this and a monetary aspect. The argument would be that the Juncker plan is doing that to some extent at an infrastructural investment level. The idea is that €315 billion over three years will provide some fiscal stimulus.

On the monetary side, the issue raised of quantitative easing, QE, for the people is a fascinating one. Dr. Kinsella referred to there being no political obstacle. I slightly disagree with that. When one talks about issuing €1,000 to every adult in the eurozone, those involved in central banking ask what political implications such an action would have. Further down the line, do people think we can just conjure money out of thin air? One can do that but one does not have to be an economist to know that a central bank giving people money is not how a country gets rich. If that were the case, every country would be extremely prosperous. We know this will not make countries rich but it could provide a kick-start for economies. However, there is a political problem around that issue. If one does it once, what happens in the future?