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Britain cannot escape from Europe’s storm

QE might be creating a credit bubble

By Norman Lamont   March 2015

Two years ago, it appeared as though the eurozone’s problems might tear the single currency apart, leading Mario Draghi, President of the European Central Bank (ECB), to pledge to do “whatever it takes” to save the euro. His historic words were interpreted as heralding a European programme of quantitative easing (QE)—the process by which central banks “print” money to buy…

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