real-time news and commentary for investors
Friday, Jul 27
2012, 6:06 AM
Purchases of government bonds by the eurozone's temporary EFSF rescue fund would be...
Purchases of government bonds by the eurozone's temporary EFSF rescue fund would be "unproblematic," a Bundesbank spokesman says, although such action by the ECB would still be "problematic." Now, extrapolate EFSF to the new permanent ESM, pledge that the latter can have a banking license so it can borrow from the ECB, and markets might just zoom off the scale - for a day or two.