Monetarists Accuse ECB of "Dangerous Game of Chicken"; The REAL Dangerous Game
MishTalk
FEBRUARY 6, 2014
In addition to holding its benchmark rate at 0.25%, the ECB also left the rate it pays on bank deposits unchanged at zero. The eurozone is doing so by accident, letting market forces drain liquidity from the financial system for month after month. ECB president Mario Draghi said: "We have to dispense with this idea of deflation.
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