For once Britain can be happy that there is the euro. As without all the discussions about Europe’s ailing currency, we would now be talking about the next sterling crisis.

As eurozone countries were once again engaged in a new round of emergency negotiations over Greece, bank recapitalisations and an extension to the EFSF rescue fund, the latest round of quantitative easing in the UK went almost unnoticed outside Britain.

The lack of international attention is despite the fact that a further £75 billion have now increased the total amount of Britain’s virtual money printing exercise to £275 billion. What’s more, it is possible (if not likely) that the Bank of England will continue this policy to much higher levels.

Beitrag erschien zuerst auf achgut.com