Why would you buy Italy if you can buy Spain, which has an ECB backstop? Answer. You probably wouldn’t. Talk about the law of unintended consequences.
Pretty soon everyone will have to be bailed out in order to have their credit “enhanced”.
Why would you buy Italy if you can buy Spain, which has an ECB backstop? Answer. You probably wouldn’t. Talk about the law of unintended consequences.
Pretty soon everyone will have to be bailed out in order to have their credit “enhanced”.
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