I realise I'm replying to a fairly old thread now, but just wanted to say thanks for the insightful comments. After giving it some though, I agree that the scen

I realise I'm replying to a fairly old thread now, but just wanted to say thanks for the insightful comments. After giving it some though, I agree that the scenario you've outlined is the most likely one. I hope the 'eurocrats' keep an eye out for unintended consequences/incentives that 'hidden' (but more complex) arrangements can spawn. Hidden subsidies, like underwriting government bonds, give me the willies...