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For Want Of A Nail, The Kingdom Was Lost

Greece needs about 10 bln euros by the end of the month. The negotiations are fierce. Although the ECB and Germany are clashed over the conduct of monetary policy, they seem to be in agreement, not to concede to Greek requests for debt forgiveness or a debt swap. At least until the end of the month, German media is unlikely to repeat the slur, referring to the ECB as the Banca d'Italia's Frankfurt…