[pp.int.general] [Pp-leaders.discussion] EU: ESM-treaty

carlo von lynX lynX at pirate.my.buttharp.org
Sun Nov 6 04:36:47 CET 2011

On Sat, Nov 05, 2011 at 08:45:04PM +0000, Philip Hunt wrote:
> But the banks already calculated the likelihood of a borrower
> defaulting when they lent the money (and set the interest rate
> accordingly). So why should we, the people, bail out the banks for
> making incompetent decisions?

  From what I gathered that's not exactly the case when borrowing
money to sovereign states. In that case they were given guarantees
that a EU state wouldn't just default.

> If some banks go bust, and this causes other banks to go bust, then
> let them go bust.

Don't forget about private people's savings accounts...

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