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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: P.T.Burnem who wrote (26211)	9/2/1998 11:00:00 AM
From: Philipp	Read Replies (1) \| Respond to of 94695

~$100B in bad loans is irrelevant? Sorry, it is now. Most of that has been written off a long time ago. It is also only a small fraction of what Germany, the main creditor, has been paying so far for rebuilding bankrupt East Germany. It just adds a couple of % to that debt and has already been absorbed by the system. This was just part of the price the German government agreed to pay when it bought East Germany from Gorbachev (price estimated at 100 billion DM, but I suspect it was much higher). But there are other indirect economical effects that are not so irrelevant. Regards, Phil