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Illustrating here the "cheap money" phenomenon, for an article by John O'Sullivan on monetary policy, and, in particular, the dangers of a protracted period of low interest rates, which makes it easy for the banks to roll over poor-quality loans and tempting for them to invest in risky assets.

Made by Lago di Garda, with big thanks to Nadia. (107)
Padenghe, Italy 2010-07-14
for: The Economist Newpaper, London.