The tragic mistakes of the central banks

As the print dries on the European and US bank nationalisation plans and praise is sung for the financial statesmanship behind these, it is important (at least for posterity) to draw attention to the fact that there was an alternative route back to economic revival, says Brendan Brown, the chief economist at Mitsubishi UFJ Securities.

In Europe an alternative route, faster and more promising as regards future prosperity - and consistent with the best liberal principles, stands out the clearest.

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