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The Riksbank jacked interest rates up to 500 % (yes, really) before it conceded defeat and let the krona float.

In the immortal words of the Bundesbank:

The Bundesbank with its commitment to price stability had refused to lower interest rates massively. The partner countries are forcibly reminded of their responsibility for their currencies; the process of convergence needed for monetary union is strengthened.


Economics is politics by other means
by Migeru (migeru at eurotrib dot com) on Thu Aug 11th, 2011 at 05:27:21 PM EST
[ Parent ]


Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Thu Aug 11th, 2011 at 06:08:29 PM EST
[ Parent ]
as we know it ...

and I feel fine

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Thu Aug 11th, 2011 at 06:25:20 PM EST
[ Parent ]

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