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Angela`s Hashes

“We have a Treaty under which there is no possibility of paying to bail out states in difficulty.”

Quote by: Angela Merkel
Quote made on: 01/03/2010
Quote Submitted by: James Inglis
Source: Deutsche Welle

Editor's Notes

…well, at least, not directly anyway. The ECB`s injection of 1 trillion euros of three year loans into European banks came in handy, though.

 

ADDITIONAL COMMENT – it might just be time for an update of this post, bearing in mind the report in last weekend`s “Financial Times” that “…taxpayers for all 17 eurozone countries, Germany foremost among them, will shoulder the burden of  100bn. euros in cash injections” and that “…the bail-out of Spain`s domestic banking sector, stuffed with bad real estate investments, will no longer be Madrid`s responsibility.”

I must be missing something here.

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Published on: July 3, 2012

Category – Rest of the World Predictions and Gaffes
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What you as the City of London have done for financial services, we as a government aim to do for the economy as a whole.

Gordon Brown - 2002

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