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Date For Approval Of EFSF Monetary Authority Passes As Some Eurozone Nations Have Not Yet Signed The Required Framework Agreement

|Includes: AUSE, EWJ, EWP, SPDR EURO STOXX 50 ETF (FEZ), FXI, GLD, IWM

XE.com relates the Jan Strupczewski Reuters report dated June 30, 2010, All Euro Zone Countries Must Sign Stability Deal -Rehn: It is essential that Slovakia, along with all other euro zone countries, signs the agreement that would allow the European Financial Stability Facility to become operational, Economic and Monetary Affairs Commissioner Olli Rehn said.

Slovakia has not yet signed the framework agreement that spells out how the EFSF is supposed to operate, holding up the process of making the emergency loan facility for euro zone countries operational.

The EFSF, which would be able to issue up to 440 billion euros worth of euro zone-guaranteed bonds to raise funds for a euro zone country in trouble, was to become active on July 1.

Chart of FEZ, FXI, IWM, EWJ, DNH, EWP shows Spain leading the way down in a deflationary world-wide economic collapse – debt deflation is destroying fiat asset values; while creating an investment demand for gold, GLD.



Disclosure: I am invested in gold coins