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multi-part rescue umbrella of €1500bn


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multi-part rescue umbrella of €1500bn

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 GridKing 
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According to FT Deutschland, the US, the eurozone, and the IMF are working towards creating a multi-part rescue umbrella of €1500bn; it would involve a merger of the ESM an the EFSF; if agreed in full, it would effectively amount to a doubling of the European firewalls; banks are preparing to double their uptake at the Feb 29 LTRO to close to €1 trillion, according to the FT; Portuguese bond yields reach record highs, as investors are concerned about Greece, and a possible spillover; Lucas Papademos said he hoped talks with the troika would be concluded by the end of this week, but says there are still serious obstacles to be overcome; Belgium's first general strikes in two decades brings parts of the country to a complete halt; EU leaders agree fiscal pact, with Brits and Czechs opting out; summit was overshadowed by Germany's demand to impose a fiscal Kommissar on Athens; the FT says in an editorial that since the EU accepted German austerity, Germany must now accept that its current account surplus is a problem; FDP an SPD both applaud Nicolas Sarkozy's financial transaction tax; Francois Fillon halves the French growth forecast; German inflation falls to 2%; the supervisory board chairman of Commerzbank says Greek should exit the eurozone; Paul Krugman, meanwhile, makes the case that austerity in a recession leads to an increase in indebtedness.


European Tribune - Comments - European Salon de News, Discussion et Klatsch - 31 January

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Last Updated on January 31, 2012


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