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Purchases of government bonds by the eurozone's temporary EFSF rescue fund would be...
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Friday, July 27, 2012, 6:06 AM ETPurchases of government bonds by the eurozone's temporary EFSF rescue fund would be "unproblematic," a Bundesbank spokesman says, although such action by the ECB would still be "problematic." Now, extrapolate EFSF to the new permanent ESM, pledge that the latter can have a banking license so it can borrow from the ECB, and markets might just zoom off the scale - for a day or two.
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