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European Tribune - MIT professor Simon Johnson critical of EU leadership on Greece
The French and Germans are apparently actually encouraging banks, pension funds and individuals to buy these Greek bonds -- despite the fact senior politicians must surely know this is a Ponzi scheme (i.e., people can get out of Greek bonds only to the extent that new investors come in).

Really? Look, there's plenty to say about the way the EU is handling this, but what source does Simon Johnson cite to back up the assertion the "the French and the Germans" (who's that? Governments, banks, brokers, pundits..?) are "encouraging" right down to "individuals" to buy "these Greek bonds"? There's something I must have missed, I'd be glad to be proved wrong.

by afew (afew(a in a circle)eurotrib_dot_com) on Thu Mar 11th, 2010 at 04:03:45 PM EST

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