The joint rescue between the IMF and the EU would turn the Bundesbank into a "money-printing machine" for the purchase of Greek bonds, according to Rundschau. This would breach the EU's 'no-bail clause'.And I don't blame the Greeks for taking advantage of the system. They invented anarchy too, after all.
Friday, 9 April 2010
IMF: Inflation Maximising Fund
Pretty much spot-on.
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