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So the argument made is that the Irish architect of the bailout and the German and UK governments that have been faithful servants of their own banks which are the ones most exposed to Irish debt were ready to reverse course and make the bondholders pay, as the IMF had recommended, but that the American Treasury whose only role is as a member of the IMF also reversed course and vetoed any haircut?

"The only one to speak up for the Irish was UK chancellor George Osborne, but Geithner, as always, got his way. "

Unlikely on both counts.

by rootless2 on Mon May 9th, 2011 at 07:37:26 AM EST
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