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... enough time to quietly shift their liabilities onto the public balance sheet, so a public publicised bailout can be avoided.

The fact that the collateral damage from such a PR exercise includes several Mediterranean economies does not seem to overly concern Die Seriöse Leute.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Apr 14th, 2011 at 05:22:33 AM EST
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