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James Duncan: Maybe Germany got a bailout too

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In the debt crisis, Germany is cast as the adult and Greece as the child. It may be bit more complicated: “When the European Union and the European Central Bank stepped in to bail out the struggling countries, they made it possible for German banks to bring their money home… Unlike much of the aid provided to Greece, the support to Germany’s banks happened automatically, as a function of the currency union’s structure.”

Linked by James Duncan Davidson.


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