Normally I'd agree with the thesis that the ECB has too strict a bias to and already too low inflation target, but if ever there weren't a time to bail out the BOE and the Fed, this is it.
Why the hell let them monetaize their bad debts in the Eurozone?
And like the Argentines borrowing in USD ten years ago, one day those same banks will be needing to pay back in Euros when most of their deposits are in sterling.
Then maybe rename the currency the peso?
I mean, since the foolish effort to get back on a pre-war gold exchange rate in denial of shifting geo-economic realities led to a long spell of slower growth than its rivals?
I'm still hoping to get some spare coin while the US$ is still a useful margin below $2.00/€ Utsukushikereba sore de ii
how much has the UK changed since the 20's? I mean, since the foolish effort to get back on a pre-war gold exchange rate in denial of shifting geo-economic realities led to a long spell of slower growth than its rivals?
