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No aid from the ESM can be given to banks without the guarantee of the sovereign, says a senior...

No aid from the ESM can be given to banks without the guarantee of the sovereign, says a senior EU official, squashing post-summit ideas the rescue fund could directly bail out lenders. "This is very much not the case," he says, scratching his head at how markets ever got such an idea.
Comments (2)
  • torahislife
    , contributor
    Comments (400) | Send Message
     
    "You thought we said whaa...?" Got your face-saving post-summit market bump . Now it's back to denial, empty promises, and dissention as usual.
    6 Jul 2012, 11:23 AM Reply Like
  • sr1977
    , contributor
    Comments (319) | Send Message
     
    "...scratching his head at how markets ever got such an idea."

     

    Markets got the idea from whoever front-ran the euro post-summit hail mary pass with a 3.3 billion SPY futures purchase at 2:30 PM last friday.
    6 Jul 2012, 11:55 AM Reply Like
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