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The collapse of Spanish housing left the banking system with as much as 51 billion euros of deferred tax assets(DTAs), mostly from 2011, that can be used against future profits for as long as 18 years. Multimillion dollar losses banks have generated billions in tax credits in just two years.
For example, a recently proposed Indian government policy on e-commerce and a similar order from the country’s central bank seeks to prohibit data on Indian e-commerce consumers from being stored outside India.
The answer to those questions is threefold: Central Bank choices. Federal Reserve and the European Central Bank followed broadly similar policies in reaction to the crisis, lowering interest rates and injecting liquidity. What went wrong? How could a crisis that started in the U.S. have caused so much damage in Europe? Both the U.S.
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