Sunday, August 7, 2011
There’s a hole in my bucket, dear Liza
ECB to buy Italian, Spanish bonds to stop contagion
"The European Central Bank will intervene decisively on markets to protect Italy and Spain from an accelerating debt crisis, a monetary source said on Sunday, indicating it would buy government bonds of the euro zone's third and fourth biggest economies" (just in time for the Asia markets to open).
Posted by alan @ 10:13 PM (1531 views)
2 thoughts on “There’s a hole in my bucket, dear Liza”
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alan says:
Telegraph said a few days back:
“On July 21, when Greece’s second rescue package was agreed, the EFSF was also bolstered from €250bn to €440bn and the terms of its operations broadened to make it more nimble. But, to provide a real firebreak, the EFSF needs about €2 trillion, analysts reckon – to cover Italy’s €1.8bn national debts and Spain’s €640bn. As it stands, the EFSF is woefully inadequate..”
…don’t forget the others waiting in the wings…….!
As Nigel Farage said recently…”in the past 6 months the peoples of Europe have finally woken up…”. It must be like falling out of bed for some of them!
watchman says:
Nigel Farage. The modern day hero politician!