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It’s a technicality that central
bankers like to fob off gullible politicians with. In
From:
Sent: Thursday, July 09, 2009 7:03
PM
To: Gang8
Subject: [gang8] Government
borrowing from central bank
090709 Gardiner re
government borrowing
Gang
See the following
http://europa.
This I have to admit was news to me. I assume that the ban on EU governments
borrowing from central banks got into EU law because it was one of the rules of
the Bundesbank. It is also a rule in
But the Bank of England now has wads of gilts as a result of 'Quantitative
Easing' and how can one see this except as government borrowing from the
central bank? No wonder Trichet is getting edgy.
Geoffrey
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