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Politically speaking bailing out Russian gray money in a tax haven is not possible. The German elections are too close. There simply is no majority. If Schäuble's behavior indicates that it is so, it is so. That man is smart.

That would mean risking letting Cyprus drop out of the Euro. They lacked the balls for that either. Hence a compromise that combines all of the disadvantages of the various options with none of the advantages.

by oliver on Mon Mar 18th, 2013 at 04:26:33 AM EST
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