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recession

This recession, banks are the good guys

The Covid-19 crisis has been a very different recession in a number of ways. One that I think is particularly interesting is the role of banks. While it is a vast oversimplification, ask ten people what caused the great financial crisis, and nine will answer “the banks!”.

This time round, it has been the commercial banks that have helped many economies to remain functioning. Nowhere is that…

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