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Europe's delusional search for growth
At the time, it was considered very much a one-off. Nobody knew whether it would work, or indeed how it would work, but something had to be done to counter the collapse in money supply and credit. Few would have imagined, even back then in the depths of the banking crisis, that all this time later it would still be going. Nor would they have thought it so ineffective. Despite the Bank's actions in buying up nearly a third of the gilts market, the economy remains flat on its back, a pale shadow of its pre-crisis self. The best that can be said of QE is that things might have been even worse without it. Well, the Bank ... (full story)
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- May 10, 2012 2:32am May 10, 2012 2:32am
- FaRa13
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