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Geithner To Discuss Leveraging Eu Bailout Fund

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http://uk.reuters.com/article/2011/09/15/uk-eurozone-idUKTRE78E1XW20110915

U.S. Treasury Secretary Timothy Geithner will discuss with European finance ministers the possibility of leveraging the euro zone's bailout fund to make it more effective in fighting the debt crisis.

The disclosure came as the European Central Bank, the U.S. Fed and other major central banks announced joint action to ease dollar funding for stricken European banks to tackle an emerging credit crunch due to the sovereign debt crisis.

Geithner will hold talks with EU ministers in Poland on Friday and will propose that the EFSF, the 440 billion euro (386.5 billion pound) fund set up in May 2010, be used in a similar way to an emergency fund created by the U.S. Treasury and Federal Reserve in 2008 to handle the subprime crisis, sources said.

"Geithner will probably insist on the importance of leverage to have more funds to ringfence the big Europeans, Italy and Spain, and to find a solution for Greece," one EU official told Reuters ahead of the meeting in Wroclaw, Poland.

So we are going to leverage a bailout fund by debt against over-leveraged debt as collateral?

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  • 334 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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