Doesn't matter. Global economy runs on dollar not euro. If they do exactly the same what US does they'll get hit by inflation even harder.
If you want to compare impacts of printing you shouldn't compare it with GDP or central bank assets but with total amount of given currency already in circulation globally.
> If they do exactly the same what US does they'll get hit by inflation even harder.
My entire point is that the monetary policy in the Eurozone has been considerably looser between 2014 and 2020 and comparable after that.
> If you want to compare impacts of printing you shouldn't compare it with GDP or central bank assets but with total amount of given currency already in circulation globally.
So the ECB "printed" considerable more if measured that way, prior to 2020 at least and they were relatively "fine" inflation wise.
If inflation is low and controlled it means the supply of money matches the demand for money which is usually associated with value creation in the economy. The fact that EU was doing well inflationwise despite having looser monetary policy than US means that Eurozone economy was doing better in that period than US and global economy. Of course in relative terms.
Wasn't the scale of QE as proportion of GDP significantly larger in the Eurozone in the 2010s?
Even now the total value of assets held by the ECB is only a bit lower than the Fed ($7.44 trillion vs 7.9). The situation before the pandemic was similar, the ECB even had more assets than the Fed throughout 2019.