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Which could have been met with lower interest rates, or that failing, financial stimulus.

Low interest rates for all is what we got and it fed private debt bubbles in the periphery. As to financial stimulus... what continent have you spent the past 2 years in?

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Wed Dec 14th, 2011 at 09:30:21 AM EST
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