Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Because discussing laws to enable a bailout can trigger a bank run even if the fundamentals are sound?

It's the magic of fiat money - it's all a confidence trick so you have to maintain the confidence.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Wed Oct 1st, 2008 at 10:10:00 AM EST
[ Parent ]

Others have rated this comment as follows:

melo 4


Occasional Series