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Euro-NIRP

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    Euro-NIRP

    All going to plan, I see.

    The European Central Bank has made the unprecedented move of charging banks to deposit money in a dramatic attempt to inject life into the eurozone's flagging economy and ward off the threat of a damaging deflationary spiral.

    In what marks an historic first for the troubled region, president Mario Draghi and his colleagues on the governing council cut the deposit rate to -0.1% from zero, meaning banks will now have to pay for the privilege of parking their money with the ECB.
    European Central Bank imposes negative interest rates on banks | Business | theguardian.com
    The material prosperity of a nation is not an abiding possession; the deeds of its people are.

    George Frederic Watts

    http://en.wikipedia.org/wiki/Postman's_Park

    #2
    That's actually less than I get on my current account. Quite some achievement.
    While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

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      #3
      Does that mean banks in the Eurozone will now have an extra incentive to speed up the clearing process?

      Or that they will be drawn towards the Bank of England's clearing services?

      2013-07-09 ECB's Asmussen hopes for deal with Bank of England on clearing houses
      Work in the public sector? Read the IR35 FAQ here

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