ECB And The Euro: Criticism Of The ECB Is Unjustified
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The weakness of the euro is not the fault of the ECB and criticism of the central bank’s policy remains unfounded. Advocates of the US Federal Reserve approach to policy may be mistaken, says Matthew Clements, economist at Prebon Marshall Yamane in London.
Since taking responsibility for monetary policy in the eurozone in January 1999, the European Central Bank has attracted its fair share of detractors. The 20 per cent fall in the value of the euro from a starting rate of $1.18 has, to some
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