Europe repeating all the errors of Japan as deflation draws closer

The latest from Ambrose Evans-Pritchard in the UK Telegraph:

• Europe is one shock away from a deflation trap.
• A surprise anywhere in the world is all that it needs: an upset in China as the credit bubble pops, or a global bond shock as the US Federal Reserve winds down monetary stimulus.
• Cites Julian Callow, global strategist at Barclays

As always, AEP’s article makes some very interesting points and, whether you like him or, perhaps not, its worth a read: Europe repeating all the errors of Japan as deflation draws closer

I’m sure Mario Draghi will be addressing these fears in his press conference Thursday (that’s a joke, by the way …).