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The "lending" should have come directly from the ECB, making the question of whether and when Germany should lend irrelevant. But nobody's talking about this.

When there is a run on a bank, the Central Bank may decide to intervene. When there is a run on a country, the Central Bank may not?

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Sun May 9th, 2010 at 05:38:34 PM EST
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