In all the hullaballoo about the IMF report (28/6/09), the normally eagle-eyed SBP missed a major statement.
Asked about the causes of the recession on the Last Word with Matt Cooper, Minister for Finance Brian Lenihan put it down to ‘‘cheap credit from the European Central Bank’’ and said ‘‘the availability of cheap labour after 2004 was a factor as well’’.
‘‘The public appetite for lending and public appetite...
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