Bailouts, Naturally

The Centre for Economics and Business Research (CEBR), a well-respected UK think-tank, has officially forecast a break-up of the eurozone in the next five years, probably by 2013.[1] The view is not particularly controversial – UK MPs were screaming it across the aisles yesterday.  What was remarkable in the CEBR news release was that it believes that Germany, the paymaster of the current bailout, will not be willing to keep paying for the successive rounds of bailouts in the future. Why not?

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