Grasping Reality on TypePad, by Brad DeLong

Peter Thal Larsen ‏@peter_tl:

@Pawelmorski Greek deposits +/- €160bn. Spanish deposits 10 times that amount. What body could credibly provide that kind of guarantee?

Dan Davies @dsquareddigest:

@peter_tl @Pawelmorski if only there was some entity capable of printing Euros, rather than having to mine them out of the ground...