Buiter says bring out the helicopter

Here is a lengthy and ambitious shopping list from Willem Buiter and Ebrahim Rahbari at Citi. Essentially, they want central banks to do more…. much, much more, including (with our emphasis):

(i) reducing rates, first by lowering them all the way to zero (UK and euro area), then by eliminating the effective lower bound on nominal interest rates (all four currency areas) [essentially: go negative, my friends]