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"The equivalent of putting explosives into a can, before kicking it down the road," writes the...

Oct. 03, 2011 7:59 AM ETBy: Stephen Alpher, SA News Editor
"The equivalent of putting explosives into a can, before kicking it down the road," writes the FT's Wolfgang Munchau about the idea of leveraging the EFSF to create what is essentially a CDO. Should it fail, there would be no governments left to bail it out. "It is the last confidence trick in the toolbox of the truly desperate."

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