Sunday, January 1, 2012

No Draghi Ex Machina - New York Times (blog)

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No Draghi Ex Machina

New York Times (blog)


In effect, the plan is supposed to rely on a Draghi ex machina, which turns contractionary policies expansionary. It's actually quite remarkable how many sensible people base their analyses on the presumption that the ECB will do what has to be done. ...



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