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Quantitative easing: it’s so simple!

Published: August 12 2009 03:00 | Last updated: August 12 2009 03:00

From Mr Eric Keetch.

Sir, In a sleepy European holiday resort town in a depressed economy and therefore no visitors, there is great excitement when a wealthy Russian guest appears in the local hotel reception, announces that he intends to stay for an extended period and places a €100 note on the counter as surety while he demands to be shown the available rooms.

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