#Eurozone needs to escape cycle of #creditbooms

Opinion: we need to escape from this apparently relentless cycle

The People’s Bank of China headquarters in Beijing. Photograph: Petar Kujundzic/Reuters

Huge expansions in credit followed by crises and attempts to manage the aftermath have become a feature of the world economy. Today the US and Britain may be escaping from the crises that hit seven years ago. But the euro zone is mired in post-crisis stagnation and China is struggling with the debt it built up in its attempt to offset the loss of export earnings after the crisis hit in 2008... (Read more)

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