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The Guardian reports France and Germany have reached agreement to boost the EFSF to €2T,...

The Guardian reports France and Germany have reached agreement to boost the EFSF to €2T, part of a "comprehensive plan" to drive a stake through the continent's debt crisis. Officials hope to get endorsement of the deal this weekend. Stocks and the "risk" currencies are shooting higher on the news.
Comments (6)
  • The Enterprising Value Inve...
    , contributor
    Comments (544) | Send Message
     
    That explains this move
    18 Oct 2011, 03:10 PM Reply Like
  • Wilson Nino
    , contributor
    Comments (4) | Send Message
     
    Where is the money coming from?? Taxed ?? Printed??
    If taxed which country will get the biggest hit?? Will its taxpayers support it.??
    Many unanswered questions.
    Surprised banks stocks are higher now just with this information
    18 Oct 2011, 03:40 PM Reply Like
  • Stoploss
    , contributor
    Comments (1727) | Send Message
     
    Officials " H O P E " to get endorsment.. Anytime i see the word HOPE attached to anything anymore, i get short.
    18 Oct 2011, 03:49 PM Reply Like
  • Stoploss
    , contributor
    Comments (1727) | Send Message
     
    So, a 2% percent move on POMO and HOPE.

     

    LOL!!
    18 Oct 2011, 03:50 PM Reply Like
  • Conventional Wisdumb
    , contributor
    Comments (1802) | Send Message
     
    Seriously the article is hilarious. I read it and I still can't figure out what has been agreed to other than there is going to be a bailout that is yet to be determined all according to some unknown sources.

     

    It seems like they will not allow bondholders to suffer any losses and put the whole bill on taxpayers:

     

    "This takes two forms. First, the main bailout fund, the European financial stability facility, will be given additional levers enabling it to offer first-loss guarantees for bondholders, be they private or public. Senior diplomats say this will deliver a fivefold increase in the fund's firepower – giving it more than €2tn compared with the current €440bn lending capability. The EFSF will in effect become an insurer, thereby overcoming European Central Bank resistance to the idea of turning into a bank."

     

    "first-loss guarantees" what an amazing euphemism. Where can I get my share of that?

     

    It's like buying fire insurance for a house that has already burned down!

     

    If I was a European or should I say German taxpayer, I think I would be in revolt!

     

    This paragraph was amusing:

     

    "Berlin and Paris are also said by those close to the negotiations to be edging nearer to agreeing on the increased scale of private sector involvement in the second rescue package (€109bn) for Greece. This was set at a voluntary 21% "haircut" in the July package but, under worsening overall economic conditions and a likely restructuring of Greek debt, Germany has been pushing for losses of up to 50%. France, backed by the ECB, has resisted the idea, while EU officials have clearly indicated that a range of 30 to 50% is being considered."

     

    Haven't we had some form of this same paragraph in every positive story on the subject in the last 3 months?

     

    We are all sheeple to the Masters of Our Universe.
    18 Oct 2011, 04:07 PM Reply Like
  • Director one
    , contributor
    Comments (61) | Send Message
     
    Now there is nothing to celebrate......just inflation possibilities..The only fly in the process is the rejection of other parties at home......yet to be determined...........this is death by a thousand cuts.
    18 Oct 2011, 04:17 PM Reply Like
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