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Private persons in Ireland are already suffering because of the conditionalities of a bailout designed to give the foreign bondholders time to offload their bonds on the ECB without improving the solvency of Ireland.

Bankruptcy would be a better deal.

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman

by Migeru (migeru at eurotrib dot com) on Fri Feb 4th, 2011 at 09:55:49 AM EST
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