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Who believes ECB’s refinancing programmes are game-changers?

LONDON | The latest edition of the liquidity expansion programme developed by the European Central Bank received Wednesday a warm welcome among several investment houses in the City. From their point of view, Long-Term Refinancing Operations or LTRO would not only help keep afloat European entities, within and out the euro zone, but prop up optimistic prospects over the global economic performance. In a report Schroders released today, chief economist…


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Loosing hope in China as motto

The World Economic Forum’s Global Risks 2012 Report highlights dystopia as one of the major three risk cases. The concept is used to describe a scenario where literally “life is full of hardship and devoid of hope.” This is an ideal far away from the motto behind the Chinese Dream so insistently emphasised by the state’s propagandistic apparatus: prosperity will be achieved thanks to a society that works in unison…