Lyrics to a country and western song being used as a global economic metaphor: Birks' €0.02.
Greek debt: priceless.
... my €0.02 is the observation that, if Germany really meant to do anything about this mess, the only rock-solid way to reassure the markets and to give Greece a fighting chance would be to offer to finance Greek government bonds at the same rate as German government bonds for some suitable period. Sod this LIBOR crap. Let's see ... ummmm, Ostdeutsch ... um, 1 for 1 ... ummm, fifteen years or so. Yes, that would have done it.
Are these people Not Aryan? (Well, no. In fact, a large proportion of them are Albanian.) But the equivalence stands.
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Date: 2010-05-27 09:44 pm (UTC)Greek debt: priceless.
... my €0.02 is the observation that, if Germany really meant to do anything about this mess, the only rock-solid way to reassure the markets and to give Greece a fighting chance would be to offer to finance Greek government bonds at the same rate as German government bonds for some suitable period. Sod this LIBOR crap. Let's see ... ummmm, Ostdeutsch ... um, 1 for 1 ... ummm, fifteen years or so. Yes, that would have done it.
Are these people Not Aryan? (Well, no. In fact, a large proportion of them are Albanian.) But the equivalence stands.