Larry Summers: Quantitative Easing on its Own Won’t Save Europe’s Economy

Larry Summers: The ECB's QE won't work (Fortune)

Summers says he’s “all in” for bond buying program, but that quantitative easing on its own won’t save Europe’s economy.

Leave it to Larry Summers to ruin a party.

On Thursday, the European Central Bank is widely expected to announce that it will begin a bond-buying program similar to the what the U.S. Federal Reserve has done with quantitative easing. Many expect QE will generate a huge boost for the European economy, much like it appears to have done in the U.S.. One person not in the group: one of Obama’s former top economic advisors and Harvard professor, Larry Summers.