In the last sting from a dying wasp, outgoiing ECB top knob Trichet says no, nein and non to a write-down of other countries debt a la Greek style. Greece was a special case and everyone else must cough-up, says Trichet. From the getgo this debt foisted on us was immoral. We should never have agreed that stupid bank rescue.
There may be valid reasons not to repudiate this debt now. I don't know if there are? The only ones that would matter to me would be that doing it negatively effects our self-interest, I personally don't give a hoot for French German or British banks that made bad lending decisions. That's how Capitalism is supposed to work.
There may be valid reasons not to repudiate this debt now. I don't know if there are? The only ones that would matter to me would be that doing it negatively effects our self-interest, I personally don't give a hoot for French German or British banks that made bad lending decisions. That's how Capitalism is supposed to work.