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As QE demonstrates, the cost of State development credit is zero.

short term funding is at zero, for now, but not long term funding. it's relatively cheap right now, but that may not last (cf "bond vigilantes).

But in any case, unitisation will cost more than the sovereign cost of funding, otherwise why would investors do it?

Wind power

by Jerome a Paris (etg@eurotrib.com) on Sun Jul 11th, 2010 at 04:12:31 PM EST
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