Saturday, May 08, 2010
Euro Update from Sky
SKY: Eurozone Acts To Stop Greek Crisis Spreading
"During a late-night summit in Brussels, the 16 heads of the single currency countries said they were ready to take whatever steps were required to protect the stability of the euro area. The leaders agreed to set up a crisis fund for all members to dip into in times of financial difficulty".
Posted by alan @ 08:57 AM (1254 views) Add Comment
8 Comments
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1. rumble said...
"The leaders agreed to set up a crisis fund for all members to dip into in times of financial difficulty"
-- They're setting up a crisis fund during a crisis?
2. enuii said...
Soundbite politics, very easy to say, yet very hard to do.
3. alan_540 said...
EMF
4. alan said...
How big would the fund need to be if the large Euro countries (Spain & Portugal) needed covering for a bail out?
E100bn or maybe E250bn ?
5. jack c said...
@alan - Maybe Santander could lend the money at preferential rates (LOL)
6. Crunchy said...
4. alan
You forgot Italy. Oh deary me.
Being a very proud conspiraloon by now, I can tell you without a (shadow government) of a doubt this will spread through the euro, media blackouts or not.
Watch Eastern Europe first. How are you all in Estonia, have you all calmed down yet or are you just warming up for the big one?
7. alan said...
@ Jack c,
Yes, that comment gave a few smiles :)
8. mountain goat said...
When going to save a drowning man take care he doesn't pull you down too.