[Humor] Fw: The A-List - Lorenzo Bini Smaghi: Fiscal cliff lessons from the eurozone crisis
tim at kehres.com
Mon Nov 19 21:25:32 HKT 2012
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Subject: The A-List - Lorenzo Bini Smaghi: Fiscal cliff lessons from the eurozone crisis
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FT Exclusive Comment
Monday November 19 2012
The A-List - Lorenzo Bini Smaghi: Fiscal cliff lessons from the eurozone crisis
If a central bank gives the impression that it stands ready to be the “only game in town”, it will end up being played. The other policy makers will have no incentive to take on their own responsibilities. This will ultimately drag the central bank into monetising the debt and lose its reputation.
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