True that Martis. But Europe has been like this for some time and they still have massive QE capacity behind them that they've frankly used extremely sparingly unlike the USA.
So Europe has a very direct avenue to QE that they have so far not taken. If things did worsen in Europe i've no doubt significant QE there would be the result. Starting the cycle over again.
Turnaround Tuesday 21st October, page-23
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