Rumpole

Of Guarantees and Printing Presses

The extension to five years for the Euro guarantee puzzles me. It's obviously not short-term funding like the overnight markets they have in mind. Could it be all that debt coming due in the next five years? Massively indebted governments guaranteeing massive bank debts... hmmm... there's something rotten in Denmark ... I smell a rather incestuous relationship and it's begetting more an dmore idiots.