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The only solution to this crisis seems to me for the ECB to buy sovereign Euro debt with newly issued currency using private banks as intermediaries.

And for someone to bang a few heads together in the Eurogroup to get a coordinated fiscal policy.

Otherwise, we'll end up with Germany standing on top of a pile of defaulted bonds from the rest of the Eurozone.

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Wed Apr 28th, 2010 at 11:09:58 AM EST

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