Some of this faulty decision-making may also reflect the underlying rationale of hedge-fund investments.

ECONOMIST: Buttonwood

An underlying rationale for Eurobonds is that the public finances of the euro area as a whole look quite respectable, at least compared with those of other big rich economies.

ECONOMIST: Eurobonds could restore confidence, but at a cost

It is a mistake, however, to reject a research conclusion on grounds of a supposed flaw without first hearing out the researchers on the details and underlying rationale of their methodology.

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