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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: yard_man who wrote (92773)4/11/2001 12:02:36 PM
From: pater tenebrarum  Read Replies (2) of 436258
 
<<``The ECB faces a potential credibility problem,'' Nigel Anderson, an economist with the Royal Bank of Scotland in London, said before the decision.>>

bullsh*t. they have gained both face, and credibility, by showing they have balls. price stability, and controlling money supply growth is their mandate, and they are doing what it takes to fulfill it. i believe they scare the Polyannas with their commitment. it will ensure that the Euro will emerge as a strong currency, and usurp the dollar eventually.

the most important comment Duisentwit made at the press conference has been judiciously omitted in this summary: he said (echoing my frequently mentioned thoughts on the matter) that "the Euro zone has none of the macro-economic imbalances plaguing other currency areas". it has therefore no need to print money like crazy...
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