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Yes, it's been considered a German diplomatic failure by overreach.

Now, as people don't know what "escrow" means, but they do know what "kommissar" means, they are hoping the new idea will fly.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Carrie (migeru at eurotrib dot com) on Tue Feb 7th, 2012 at 05:43:09 AM EST
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