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Merkel and Barroso promote compliant Irish Government (Updated) | 28 comments (28 topical, editorial, 0 hidden)
Re: Merkel and Barroso promote compliant Irish (none / 1)
From Irish blog Bock The Robber: Government Finally Allows Bank to Fail and Burns Bondholders
The government has finally decided that one of the banks isn't worth saving, and has forced senior bondholders to take haircuts of 41%.  Even more encouragingly, this action has been taken with the  full approval of the European Commission.

...

Unfortunately, the delinquent Amagerbanken is in Copenhagen and the government is Danish.

It seems that the EU is prepared to bless this burning of bondholders, while at the same time resolutely resisting an Irish action along the same lines.  It also seems that the Danish government possesses a maturity and sense of civic responsibility that our government lacks.



Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman
by Carrie (migeru at eurotrib dot com) on Thu Feb 17th, 2011 at 09:59:08 AM EST

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Merkel and Barroso promote compliant Irish Government (Updated) | 28 comments (28 topical, 0 editorial, 0 hidden)
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