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Oh! what a tangled web they weave

May 11, 2011

Germany will likely give Greece a second bailout in the very near future. Simon Hobbs tries to explain the incredibly tangled web from which the European Central Bank dangles above disaster. Hobbes suggests that a Greek default could lead to Ireland defaulting, which could lead to the collapse of the ECB.

Hobbs concludes, “Importantly, provided that greece keeps paying its bills the house of cards still stands.”


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