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A historic political agreement

FT Deutschland reports that Germany is already considering two concrete types of support operation, the purchase of Greek bonds, and loan guarantees through KfW, the state owned bank.

In another story the paper reported that the aid to Greece has become subject to a huge conflict inside Merkel's coalition, especially  as leading Christian Democrats are outraged at the thought of a bailout, when the country is about to start a programme of domestic financial consolidation.

That Germany be preparing to buy Greek debt corresponds to Juncker's talk of "bilateral" operations, ie purchases by national central banks that would need Eurozone-level coordination.

by afew (afew(a in a circle)eurotrib_dot_com) on Sat Feb 13th, 2010 at 06:06:00 AM EST

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