A blog on financial markets and their regulation
Greek bond issue
March 5, 2010Posted by on
That Greece could borrow money at all (even if it is at 3% above
the risk free rate) seems to have calmed the markets a great deal. I
am reminded of this piece of Rothschild wisdom:
You are certainly right that there is much to be earned from
a government which has no money. But you have to take risks.
That is James Rothschild writing to Nathan Rothschild nearly two
centuries ago as quoted by Niall Ferguson, The House of
Rothschild: Money’s Prophets 1798-1848, Chapter 4.