August 25, 2008 at 22:20 PM EDT
The Daily Telegraph: Bank borrowing from ECB
[Skip to the end] [written on Sunday] While not a problem in the US for the Fed to do this and more (in fact it should be standard operating procedure), the eurozone has self imposed treaty issues that make it very problematic. If there are defaults its the national governments that will probably be called on to repay [...]
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