The European Central Bank (ECB) will start serious asset purchases in 2015, similar to the Securities Markets Programme it ran in 2010, but on a much larger scale. This process is called quantitative easing: QE, for short. It has been fiercely resisted by hard money fanatics at the Bundesbank and the Finnish Central Bank, but it appears those fanatics have lost the battle to stop these purchases from happening. Their objections have been swept aside...
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