It's a no-risk operation. They should have no problem borrowing the requisite money directly from the ECB, no?

- Jake

Friends come and go. Enemies accumulate.

Well, they can always raise taxes or issue money.

After all, they're Euro-denominated bonds.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

Anything that is even a fraction as glorious as the actions of the Hong Kong currency board will find me applauding.

Peak oil is not an energy crisis. It is a liquid fuel crisis.