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Notes to myself, possibly of interest to others.
-- Bill Northlich

Monday, February 13, 2012

The Greece Bailout. (?)

Duncan Black:  Since it's usually not made clear, I will make it clear. The Greece bailout is not a bailout of Greece, it is a bailout of the banks who lent them money.
Eurozone finance ministers are then to agree to the bailout on Wednesday provided Greece meets its end of the bargain. Berlin is insisting most of the money is held in a separate account and is used purely to service Greece's debt.

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