Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I'm wondering whether shifting the benchmark rate is a matter of bowing to the inevitable, given that effective interest rates have been creeping up. We are asked to believe that interest rates are decreed, rather than determined by objective economic phenomena. Or is the decreed interest rate a sufficient economic phenomenon, insofar as it is accompanied by a promise of unlimited liquidity...?

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Thu Apr 7th, 2011 at 10:46:02 AM EST
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