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Spectre of steel

Elijah discusses how the Zollverein – a customs union and free trade area – played a pivotal role in the economic and political evolution of German-speaking states in the 19th century, eventually leading to the creation of the German Empire.

The early Japanese QE experience

QE is the new kid on the block of monetary policy but the verdict is out on its efficacy. As more central banks turn to QE to ease zero interest rate woes, Alex Woodruff wonders how this practice hit the mainstream.