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Nobel Laureate Prof. Thomas Sargent on the economic situation in Europe

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Excerpt from The New Yorker -- "[Sargent] doesn’t venture to make prescriptions for Europe. 'It seems a lot of the advice I see in the press is naïve,' he said. 'Many of the recommendations would require that institutions violate the rules and laws under which they were created and are run.' The European Central Bank is legally constrained in what it can do."

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