At the session 34 on Mar 29- Jeffrey SACHS (Director, The Earth Institute, Columbia University), approbated the utility of quantitative easing policy, saying that the QE policy adopted in 2009 and 2010 avoids a second Great Depression in 1930s.

He pointed out that the implementation of the quantitative easing policy is that the sooner the policy is put into effect, the better the result of the economy in terms of recovery. Europe on the other hand, has spent too much time on getting consensus and results in the uncertain effects of applying QE policy.