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For point 1, I don't imagine that EU sovereign banks would be needed to repurchase EU sovereign debt... Do US states need to guarantee US federal debt? I'm sure there would be plenty of market appetite.

Point 2 : I imagine that the German court ruling inspired them to short-circuit the ECB... which would have to further stretch its mandate if it were charged with raising the money, which would consist of direct monetary financing of the Commission's budget! (which is only OK if your an Anglo sovereign bank)

Point 3 : I dunno. And I'm too lazy to do the research.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Wed May 20th, 2020 at 02:40:24 PM EST
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