| http://www.w3.org/ns/prov#value | - This most serious failure of the monetary policy was a determining factor for another macroeconomic policy???extreme fiscal austerity???leading to the disastrous consequences that we have pointed out (De Grauwe and Ji, [19]).The situation changed markedly throughout 2012, when the ECB repeatedly used two very powerful instruments in its arsenal that were practically unheard of.
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