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The 4.8bn refers to the Covereb Bond Programme, which was a bailout of the German Pfandbriefe market and took place in 2009. The amount was

Covered Bond Purchase Programme
Outstanding amount *
€ mil.     60,268
Date     14 Jun. 2011
* Settled amount as of given date
What is the figure of 4.8bn you homed in on?

Economics is politics by other means
by Carrie (migeru at eurotrib dot com) on Wed Jun 15th, 2011 at 12:59:09 PM EST
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