This is just a way for a bank to take a loan from the ECB and pay back less than what they borrowed. It's nothing more than a bailout for the many broke Eurozone countries like Greece.
The problem with bailouts, of course, is that they do nothing to address the root problem of inefficient broken governments. Instead of letting courrpt systems fail, bailouts prop them up and keep bad systems in place which will only grow more costly over time.
I wonder how long it will be until the Euro dies?
The problem with bailouts, of course, is that they do nothing to address the root problem of inefficient broken governments. Instead of letting courrpt systems fail, bailouts prop them up and keep bad systems in place which will only grow more costly over time.
I wonder how long it will be until the Euro dies?
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