Capital Economics on the Bailout’s Fanciful Notion

Interesting DJ Newsire Market Talk story:

1:04 (Dow Jones) “Even if the Greek referendum problem is ironed¬†out, hopes within the euro-zone that governments from outside the region will contribute to an increase in the ‘firepower’ of the European Financial Stability Facility (EFSF) already look dead in the water,” Capital Economics writes. “The notion that developing economies should bail out rich European countries always looked fanciful: after all, Italy’s per capita income is eight and 25 times that of China and India, respectively. What’s more, sovereign wealth funds make investment decisions overwhelmingly on financial rather than political grounds.” (


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