Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
as early as 11 February 2010 our commentary on the crisis homed in on the fact that
What the ECB cannot do is fund a public debt issue, and that makes some sense from certain ideological perspectives.<bblockquote>Because by having passed through the bid-ask spread of a major investment bank, it is suddenly converted from a loan into a monetary instrument?
The last [many] months have been an exercise in teasing out the conequences of that ideological perspective.

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman
by Carrie (migeru at eurotrib dot com) on Thu Mar 1st, 2012 at 11:26:02 AM EST
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