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The sub-zero club: getting used to the upside-down world economy

Almost 500 million people now live in countries where interest rates measure less than zero

ECB president Mario Draghi currently charges 0.4 per cent on the euros deposited by banks in his coffers overnight.


JAPANESE families seem to have a sudden affinity for home safes. According to the Tokyo-based manufacturer Eiko, shipments have doubled since last fall. And in Germany, insurer Munich Re has stashed some 10 million euros (S$15 million) worth of its own cash into vaults.


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