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IMF needs billions in extra funding to tap its members including UK to stem euro debt crisis
09-26-2011, 12:47 PM #1
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,393 Threads:1,439 Joined:Feb 2011
Quote:The suggestion came after European officials revealed they were working on a radical plan to boost their own bail-out fund, the European Financial Stability Facility (EFSF), from €440bn (£384bn) to around €3 trillion.

The plan to increase the EFSF firepower is the crucial part of a three-pronged strategy being designed by German and French authorities to stop the eurozone's debt crisis spiralling out of control. It also includes a large-scale recapitalisation of European banks and a plan for an "orderly" Greek default.
Read More: telegraph.co.uk

This is not going to be popular for the people of the EU. The global meltdown clock is ticking, this could be one of the last major transfers of wealth. How many times can the EU taxpayers bailout Greece?

wonder.gif
09-26-2011, 12:56 PM #2
Octo Mother Superior
Posts:42,970 Threads:1,473 Joined:Feb 2011
The shock-and-awe plan would also involve massive bank recapitalisation requiring some tens of billions both from financial institutions raising the monies themselves and, if necessary, their own states or the EFSF.

The Daily Telegraph reported that in return for agreeing to such a programme, currently being devised by French and German officials, Berlin is demanding that Greece undergo a "managed default" within the eurozone, involving a haircut for investors of 50 percent on the face value of government bonds.

http://euobserver.com/19/113735

Anonymous Kritter Show this Post
09-26-2011, 01:20 PM #3
Anonymous Kritter Incognito Anonymous
 
Wonderful. gaah.gif
09-26-2011, 01:44 PM #4
Octo Mother Superior
Posts:42,970 Threads:1,473 Joined:Feb 2011
yeah no shït 15.gif
09-26-2011, 04:55 PM #5
Octo Mother Superior
Posts:42,970 Threads:1,473 Joined:Feb 2011
Quote:Polish foreign minister Radek Sikorski and fellow government members on Sunday (25 September) prayed at a special mass devoted to EU solidarity amid the financial crisis.

http://euobserver.com/843/113736


damned.gif
09-26-2011, 05:33 PM #6
Upāsaka Member
Posts:1,383 Threads:252 Joined:Feb 2011

Will it lead to this ?

İmage

We've reached debt saturation point, the shït has met the fan and is clogging up the blades.
09-26-2011, 06:01 PM #7
Shadow Mrs. Buckwheat
Posts:12,782 Threads:1,182 Joined:Feb 2011
EFSF Enema For Socialist Financiers



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