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The ECB has been in a running battle with the Czech central bank for years over the need for the Czech central bank to operate on positive equity, on which the Czechs are entirely correct there is none.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Carrie (migeru at eurotrib dot com) on Tue Jun 30th, 2015 at 12:12:18 AM EST
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