European Union prepares for Greek state bankruptcy
By Peter Schwarz 8 October 2011 The European institutions have clearly changed course in relation to Greece. Instead of the “rescue” of the country, they are now discussing its bankruptcy, and reducing the risk of contagion. The euro rescue fund, supposed to guarantee Greece’s solvency, is being used to secure the creditor banks against the consequences of state bankruptcy. The change of course has happened ...
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