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New ECB cash injection seen bringing pain for euro
A second injection of cheap funds from the European Central Bank may give the euro a temporary boost but is likely to trigger a longer-term decline in the common currency. The ECB's first long-term refinancing operation in December helped stave off a credit crunch, cut borrowing costs for lower-rated euro zone countries and restore relative calm to financial markets as Greece wrangled over terms of its latest rescue deal. It also sparked gains this year in the euro gain against the dollar and the yen. But with nearly half trillion euros expected to be pumped into the system on Feb. 29, some analysts said these ... (full story)
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