Wednesday, October 12, 2011

Panic over

Barroso outlines plan to resolve eurozone debt crisis

They've decided that because the banks have run out of money, governments will give them more, so the banks can lend more money to the governments because the governments have run out of money.

Posted by timmy t @ 05:08 PM (1421 views)
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5 thoughts on “Panic over

  • An unelected man in an unelected Union decides that the bankers profits need to continue, whilst the rest of Europe suffers

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  • Awaiting, with baited breath Nigel Farage’s response…………..

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  • charlie brooker says:

    Ever decreasing circles.

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  • mark wadsworth says:

    That’s a good explanation.

    That’s what happened in Japan, the whole thing is bizarre, govt debt is 300% of GDP but most of that is held by banks. So the govt did QE, gave the banks money and the banks invested it straight back into Japanese govt bonds. in other words, included in Bank of Japan assets are a couple of hundred per cent of GDP of “money lent to banks”.

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  • general congreve says:

    Nice summary Timmy T.

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