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Project finance does not end up creating any new money, overall. It's perfectly sustainable as it is about spreading the cost of investment over time. It's working, it's survived every crisis of the past 30 years unscathed, and it gets projects built. It can be used to get government-driven, government funded projects done, or private-sector funded, private-sector-led projects.

And it's a lot more flexible than your Redeemable Units proposal, which makes no sense for many of the stakeholders of a project: manufacturers and builders are not interested in these units as they need to deal with the rest of the world and the rest of the world does not use such Units.

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Sun Jan 3rd, 2010 at 08:56:09 AM EST
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