From the statement of the European Union heads of government council meeting:
A simple repetition of the 2008 experience with full national discretion in the setting-up of [bank] liquidity schemes may not provide a satisfactory solution under current market conditions.
In other words, putting the entire balance sheet of your busted banks on the public debt, like Ireland, hasn't worked that out well.
A simple repetition of the 2008 experience with full national discretion in the setting-up of [bank] liquidity schemes may not provide a satisfactory solution under current market conditions.
In other words, putting the entire balance sheet of your busted banks on the public debt, like Ireland, hasn't worked that out well.
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