According to the French central bank, 54 billion euros were withdrawn from capital funds in October and November, during the height of the public debate over the tax boosts.
The proposal, touched upon by The New York Times’ Paul Krugman and U.S. Represenetative Jerrod Nadler of New York, would see a platinum coin created by the U.S. Mint with a value of $1 trillion.
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European economists and investors are reportedly concerned about the revelation, as it shows that the Rajoy government has been reducing borrowing costs by utilizing proceeds from another government entity – effectively, Spain is monetizing its own debt.
Bartering, it seems, has filled a void for people who have goods to trade but lack a form of income that would provide them with euros.
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According to various media reports, the recently approved legislation was the result of tense negotiations between U.S. Vice President Joseph Biden and Senate Minority Leader Mitch McConnell.