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 ECB balance sheet has plummeted to 23pc of eurozone GDP from a peak of 32pc in July 2012. Certainly we would have been better off had the housing bubble bursts in 2003 rather than 2005.
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