Is the European Central Bank (ECB) Europe’s AIG?
In other words, will the ECB be left holding the can, having lent all this money to the peripheral countries in order to save rich banks in Germany and France, in the same way as insurance giant AIG was destroyed by the sub-prime market?
If you remember back to the Lehman crisis, it was the collapse of AIG that really spooked the world’s financial markets....
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