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The two are complementary.

At the risk of sounding like a broken record, if you do not remove the threat of punitive policy rates against defaulting €-zone economies, you will have a better than even chance of not having a European Union to implement fiscal policy in by this time next decade.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Jun 3rd, 2011 at 07:06:14 AM EST
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by Jerome a Paris (etg@eurotrib.com) on Fri Jun 3rd, 2011 at 07:17:25 AM EST
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Meanwhile, Trichet proposes an EU finance minister without a budget whose only role would be to IMF member states. Some European construction, that.

Incidentally, I think we should start calling this "ECB riots" and "to ECB a country". Smearing the IMF is getting old.

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Fri Jun 3rd, 2011 at 07:22:40 AM EST
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