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More on the latest EU bazooka: As floated earlier, the EFSF will offer first-loss guarantees to...

More on the latest EU bazooka: As floated earlier, the EFSF will offer first-loss guarantees to holders of sovereign debt, creating an effective fivefold increase in the fund's firepower. Second, EU banks will be recapitalised to a 9% ratio. German and French lenders can do this on their own, while others will receive assistance as necessary.
Comments (2)
  • TraderMark
    , contributor
    Comments (2422) | Send Message
     
    Full article via UK Guardian here

     

    http://bit.ly/pJHE41
    18 Oct 2011, 03:23 PM Reply Like
  • J 457
    , contributor
    Comments (947) | Send Message
     
    Backstop debt with more debt. This is all going to end very very badly someday. Maybe not today, but eventually what these leaders are doing will come crashing down around all of us. This is truly once in a lifetime historical event in the making.
    18 Oct 2011, 03:29 PM Reply Like
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