Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
They are worried particularly about government debt, because typically there is no corresponding asset.

As opposed to all those solid Real Estate backed "assets" on bank's Balance Sheets.

(When the fuck did Dada move from Art to mainstream political-economics?)

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Mon Nov 22nd, 2010 at 03:24:00 PM EST
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The author of that piece is whoring for the "internationally active financial sector", clearly.

Of all the ways of organizing banking, the worst is the one we have today — Mervyn King, 25 October 2010
by Carrie (migeru at eurotrib dot com) on Mon Nov 22nd, 2010 at 03:37:31 PM EST
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