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"aside from your obsession with the quaint notion that since Ireland was a debt crisis, Spain, Portugal, Greece, Italy, France and Belgium must also be debt crises"

I would be obliged if you don't make up my positions for me.

"Ireland - the sovereign, not the banks - came under attack in early Winter 2009, almost immediately after NAMA was announced (for obvious reasons, since NAMA was always suicidally insane)."

Bail-out was only in autumn 2010.

I still think the problem was not NAMA but the guarantee in 2008. Taken without the involvement of any outsiders.

You take countries with large CA deficits: Spain, Portugal, Greece and then mix them together with other countries: France, Italy, Belgium there the CA deficit is quite small. And you just hand wave Ireland away.

by IM on Wed Sep 7th, 2011 at 09:15:26 AM EST
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