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"The bailout fund might need a bailout," says Gary Jenkins, pointing to the widening spread of...

"The bailout fund might need a bailout," says Gary Jenkins, pointing to the widening spread of EFSF paper to German debt - now at 151 basis points vs. about 50 when issued. The reduction and then postponement of a €5B bond sale (to fund Ireland's rescue) last week adds to worries the bazooka is being shut out of capital markets.
Comments (1)
  • buybuybear
    , contributor
    Comments (389) | Send Message
     
    Yet, there is already talk to lever it up to 2T since now Italy has become a worry... Do markets really buy that? You can talk about all the T's you want, but at some point this thing needs to be funded with actual dollars. Lagarde now in Russia to get money. China said no, Brazil said no

     

    I propose a way: No financial gimmicks: Straight up taxes to the EU citizens:

     

    "Help Greeks retire at 50 tax"
    "Don't let Italians work too hard tax"

     

    Every citizen in the EU I am sure is so worried that the EU might collapse that people will even offer to pay more...That way you have true legitimacy to the EU project.

     

    Fat chance? Citizen's revolt? Well, there is your answer to what will happen in the end.
    7 Nov 2011, 09:14 AM Reply Like
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