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News Link • Economy - International

When The Head Of The European Central Bank Lies To Zero Hedge On The Record...

•, by Tyler Durden

ï»Who can possibly forget the following exchange from April 2013 in which a very simple question was asked: so simple that apparently nobody else in the very serious media had ever even considered it.

Scott Solano, DPA: Mr Draghi, I've got a couple of question from the viewers at Zero Hedge, and one of them goes like this: say the situation in Greece or Spain deteriorates even further, and they want to or are forced to step out of the Eurozone, is there a plan in place so that the markets don't basically collapse? Is there some kind of structural system, structural safety net, especially in the area of derivatives? And the second questions is: you spoke earlier about the Emergency Liquidity Assistance, and what would have happened to the ELA in Cyprus, the approximately €10 billion, if the country had decided to leave the Eurozone?

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