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Couln't this also seen as a worry that private banks have an incentive to support state-level goverments to do such a questionable trick?

Doesn't this also have the risk that eventually the pension bodies might come to a decision on whether they pay pensions or pay the bond returns? Wasn't this also the case with Greece that banks knew that Greece didn't have the greatest of possibilities to pay back when it comes time to cough up the interest but kept on loaning anyway and then instead of counting it as uncollectible accounts (there is finish word for it too "luottotappio", "trustloss") they insist on it being paid back.

In similar way if they do this kind of trick and somebody buys the bonds would pensions really be canceled in order to prevent the bonds become uncollectible? If you give bad debt isn't it in the spirit of capitalism that you suffer the consequences of your bad judgement?