EFSF to enter short term market,
Providing 20-30% of credit protection for sovereign debt
A co-investment fund will assist in support
Euro up slightly
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EFSF to enter short term market,
Providing 20-30% of credit protection for sovereign debt
A co-investment fund will assist in support
Euro up slightly
If you enjoy the content at iBankCoin, please follow us on Twitter
nothing will ever be a permanent fix over there until they establish some means of creating currency.
and none of the current account deficit nations over there will ever have thriving economies – ever – until the same (currency creation). You can’t drain a country of financial resources eternally and expect it to thrive. (CA deficit drains financial resources, if somebody can’t replenish those, it eventually goes boom).
Austerity + current account deficit = unfunness. We may now yap and quote amazing studies showing that if the government just ran a gigantic surplus there would be, like, super-extra lending into the private sector and we’d have, like, the boomingest boom time, like, ever, man. But it doesn’t (and hasn’t) work that way.
more can kicking
Does that mean the first 10 billion Euros’ worth of Italian bond holders can look forward to a mere 70% to 80% haircut?
Hallelujah! We (well, some of us) are (70 to 80 percent) saved!
Yes, they can look forward to volunteering for a haircut.
This is not a plan it is a concept, an idea. It is the difference between a finished movie and the little line in the credits that says “based on an idea by XXX.” This is the line in the credits. Nice to see the markets are not really reacting.