The Federal Reserve has announced that it will end its program in March and the Bank of Canada, the Bank of England, the Riksbank and the Reserve Bank of New Zealand have all ended their programs. This is relevant because one of the reasons we introduced our program was that other central banks were buying bonds.
In this agenda there is no place for retreating into nationalism and protectionism. We know better than this and should stay focused on the key reform priorities: completing the banking union, implementing growth-friendly fiscal consolidation, and structural reforms in labour and product markets.