Yes it sound just like sub prime. Except worse. It says 'years
later the bonds are repaid in the original foreign denominations',
so it isn't just the extra 1 billion. If the Euro tanks (and it has
fallen so far with this news) then they will need more Euros to pay
back the original $ they borrowed.
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Yes it sound just like
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Posted by window72 on 9th of Feb 2010 at 06:03 pm
Yes it sound just like sub prime. Except worse. It says 'years later the bonds are repaid in the original foreign denominations', so it isn't just the extra 1 billion. If the Euro tanks (and it has fallen so far with this news) then they will need more Euros to pay back the original $ they borrowed.