Friday, July 27, 2012

Gimme, Gimme, Gimme

Spain discussed $366 billion bailout with Germany

"The temporary bailout fund, the European Financial Stability Facility (EFSF), has 259.5 billion euros of lending capacity left, of which up to 100 billion is already earmarked for the recapitalization of Spain's stricken banks. Under current agreements the ESM was to start with only 100 billion euros of lending capacity in July, and its firepower was to rise to 200 billion euros in October as the second tranche of its capital was to be paid in by euro zone governments". (Are the Germans softening?).

Posted by alan @ 06:44 PM (2054 views)
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2 thoughts on “Gimme, Gimme, Gimme

  • Spain needs to exit, refloat, regain control of it’s monetary policy and QE (otherwise known as the Great British cheat).

    On their head be it, if they don’t.

    Either way GB is fubar. (Requires a little lateral thinking)

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  • At this rate it will be a Trillion Euro bailout by September. Heck, why not just mine the whole of Germany to pay off the fraudulent debt and the shadow banking system??

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