Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
If you begin gaming out major bank resolutions and speculative attacks on your currency when it is unspoken common knowledge that your banks are insolvent and your currency too high, then they risk becoming self-fulfilling prophesies.

This is a rationale for keeping one's head in the sand.

same syndrome as nuclear power! if we cost for all the eventualities it would be obvious why it's suicidally stupid, so it's extend'n'pretend there too.

fuku what?

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Wed Apr 20th, 2011 at 05:46:07 PM EST
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