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The plan seems to be rolling over privately held debt with public money, at least until Merkel's magical date of 2013.

But in order to get that past the public and the politicians in creditor countries they have to go through the kabuki of throwing virgins into the volcano.

Economics is politics by other means

by Migeru (migeru at eurotrib dot com) on Mon Jun 13th, 2011 at 08:29:07 AM EST
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