Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
but they need to borrow to buy back the discounted old bond...

...unless France and Germany do the buying themselves, and hold the paper to maturity, making a nice profit in the process...

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

by Jerome a Paris (etg@eurotrib.com) on Thu Feb 11th, 2010 at 05:07:55 PM EST
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