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Actually, while the previous bailouts indeed shifted a lot of debt into public hand, in the current fight between Germany and everyone else, it is Germany's finance minister who calls for rollover by private banks (who in Germany were asked to not sell their Greek bonds until 2013 a year ago already) and the ECB and reportedly France who oppose the inclusion of privates most, ostensibly for fear that it will be interpreted by "the market" as forced default for private creditors and will lead to another assault on Portugal and the rest.

*Lunatic*, n.
One whose delusions are out of fashion.
by DoDo on Mon Jun 13th, 2011 at 07:54:04 AM EST
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