Sep 08
Marsh on Monday: Can Buba-ism do for Europe what it did for Germany?
LONDON (MarketWatch) — When it came to spreading Socialism around the world after the Bolshevik Revolution, the 20th century’s two epic Communist leaders were in complete disagreement. While Lenin called for extending the Russian revolution into other nations, Stalin insisted that “Socialism in one country” was the only way to proceed. Abstruse though the comparison may appear, there are some parallels to what is happening today over European interest rates, following the European Central Bank’s decision last Thursday to keep its main lending rates unchanged and toughen collateral conditions for providing liquidity to international banks.