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What I don't understand is why the Scandinavian government has to borrow money from the Scandinavian bank to fund the project through its ECA. What confuses me is why the Scandinavian government could it not just fund the project directly (print money) without borrowing its own currency?
I don't know which one it was and I'm not too terribly familiar with the policies of the Swedish and Norwegian governments, but the Danish government has stuck tightly to a no-public-spending policy essentially since it was elected. No exceptions (well, except for the banks, of course - wouldn't want to let the banks down...) and even to the point of being ridiculous about it.
The most tragicomic tale is that of a county had a footbridge destroyed by a careless truck driver. His insurance paid for reconstruction, but they had to postpone the reconstruction indefinitely, because - get this - they had already spent as much as they were permitted to on public works.
- Jake Friends come and go. Enemies accumulate.
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