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As it was, the BuBa retaliated against Kohl by being extra hawkish, which was a contributing factor to the 1992 crisis which ejected the Pound and the Lira (and nearly the Franc) from the ERM.

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 Carrie (migeru at eurotrib dot com) on Mon Feb 20th, 2012 at 03:13:56 PM EST
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