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largely caused by the collapse of the asset bubble caused by German banks excessive lending to Irish banks etc.

The German banks participated to the bubble but did not cause it - and the lack of intervention/policies by domestic authorities certainly did not help.

Sure, Germany is refusing to acknowledge their part in the crisis - but it does not mean that they were the only ones to blame.

Wind power

by Jerome a Paris (etg@eurotrib.com) on Thu Jun 2nd, 2011 at 07:58:27 AM EST
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