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Blitzer's Blog >> 41088

Posted: 01 Oct 2008 00:04 [ permalink ]

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3104666/Bankin
g-crash-hits-Europe-as-ECB-loses-traction.html

"The ECB is no longer able to inject liquidity because the money is just
coming back to them again. This is extremely serious. If monetary policy is no
longer working, there is a risk that the whole system will blow up in days"

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