Tuesday, June 19, 2012

Here we go again

Debt crisis: Spain and Italy to be bailed out in £600bn deal

The two European rescue funds EFSF & ESM are to be combined and used to purchase the debts of the troubled economies on the financial markets. It is hoped the new plan will drive down the cost of Spanish and Italian bonds.

Posted by enuii @ 10:29 PM (1436 views)
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4 thoughts on “Here we go again

  • general congreve says:

    Because that 100Bn they gave Spain the other day worked so well…

    Seems things are going full retard now, as they say at ZH.

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  • they seem so reactive to ‘the market’ whereas what they should be doing is solving the problem and letting markets take care of themselves

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  • Spain and Italy won’t benefit – but I bet some banking desks get a “nice bonus”.

    Sorry to hear Cyprus and Portugal were missed out – maybe next time. We won’t be waiting long till the next sticking plaster comes along. Say, early July???

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  • general congreve says:

    It looks as if this is all bullsh1t perpetuated by the banks and their political cronies to temporarily move the markets in their favour and to try and push Germany in the direction they desire, in a last ditch effort to save their own skins. It is then repeated verbatim by a subservient press without question or investigation!

    http://www.zerohedge.com/news/italy-comes-begging-semi-bailout-germany-says-non-semi-nein-without-conditions

    http://www.zerohedge.com/news/grauniad-rejected-germany-denies-all-rumors – Thanks for the heads up on this one TC.

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