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Monday, November 19, 2012

Lorenzo Bini Smaghi: Fiscal cliff lessons from the eurozone crisis



The A-List - Lorenzo Bini Smaghi: Fiscal cliff lessons from the eurozone crisis
If a central bank gives the impression that it stands ready to be the “only game in town”, it will end up being played. The other policy makers will have no incentive to take on their own responsibilities. This will ultimately drag the central bank into monetising the debt and lose its reputation.
http://link.ft.com/r/NA70KK/CW48XB/3O62UJ/97LV4N/K9FNKJ/OS/h?a1=2012&a2=11&a3=19

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