"The euro area needs a buyer of last resort," writes the team at RBS. Nix the ESFS, which would...

|By:, SA News Editor

"The euro area needs a buyer of last resort," writes the team at RBS. Nix the ESFS, which would need to be increased to a politically unacceptable €3T. Nix China which isn't going to commit that kind of dough. All that's left is the ECB, which so far has been reluctant to turn on the printing press, but might, if it gets political reform in exchange.