In the same of revitalizing my popular interesting picks, although I still have not been able to return to tracking the blogosphere yet:
Interesting distinction between liquidity and monetary policy- a distinction our Central Bank has not willing to do. And perhaps rightly so: As I note in my weekly column (have mentioned repeatedly ever since the bond-buying business came up), the risk that its liquidity measures will be perceived as fiscal accomodation or debt monetization are much higher in Turkey, although they are by no means negligible in the developed countries either.
A few hours after I posted on the need for fiscal consolidation in Greece, Portugal and Turkey, Greeks announced their consolidation plans, which seem to far from satisfactory.
Interesting distinction between liquidity and monetary policy- a distinction our Central Bank has not willing to do. And perhaps rightly so: As I note in my weekly column (have mentioned repeatedly ever since the bond-buying business came up), the risk that its liquidity measures will be perceived as fiscal accomodation or debt monetization are much higher in Turkey, although they are by no means negligible in the developed countries either.
A few hours after I posted on the need for fiscal consolidation in Greece, Portugal and Turkey, Greeks announced their consolidation plans, which seem to far from satisfactory.
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