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I would suspect that most of the private debt owed to German banks is either owed by Irish banks or by  private individuals who are basically in slow-motion bankruptcy.

The IFSC complicates matters, in that some of the debt might be owed to branches of German banks there, for instance.

by Colman (colman at eurotrib.com) on Mon Feb 7th, 2011 at 10:18:01 AM EST
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