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The ECB's liquidity blitz is feeding through to the money supply, writes Ambrose...

The ECB's liquidity blitz is feeding through to the money supply, writes Ambrose Evans-Pritchard, seeing a "glimmer of hope for the austerity wasteland" of the EU periphery. Don't get too excited though - M1 money supply isn't growing in the Club Med countries, it's just slowed its rate of decent. "Be thankful for small mercies."
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