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Hallo,

new here.

Isn't this plan a illusion and about two years to late? As far as I understood, all private creditors to irish banks have ceased to lend new money since fall 2008. So the exposure of private foreign and domestic creditors is steadily shrinking. So a default of the Irish banks would hit

a) The Irish state

b) The ECB.

I am not sure you are in a  strong position with the threat: I will just default and hit myself and my own central bank.

Anothr thing: Can I change my password here at ET?

by IM on Fri Feb 4th, 2011 at 08:16:09 AM EST

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