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We cannot inflate our way out of this crisis

By Wolfgang Münchau

Published: May 24 2009 20:05 | Last updated: May 24 2009 20:05

“The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.”

Ernest Hemingway, “Notes on the Next War: A Serious Topical Letter” , 1935

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