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The evidence is that they would have threatened to cut off liquidity. Is there evidence that they would actually have done it?
I doubt the Irish government needed convincing in 2008. At least they very much owned the policy. Up to suggesting that everyone should move their deposits to Irish banks.

And even in 2010 odds are that the ECB was bluffing.

by generic on Sun Oct 14th, 2012 at 05:53:10 AM EST
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