So, the EFSF fund will not halt the euro crisis. It is only a few weeks ago that the fund was trailed as the answer to the eurozone's problems. Another instance of too little too late as the politicians. bicker behind the scenes.
http://www.telegraph.co.uk/finance/financialcrisis/8924462/Wolfgang-Schauble-admits-euro-bail-out-fund-wont-halt-crisis.html
See also: http://www.telegraph.co.uk/finance/financialcrisis/8924822/Eurozone-agrees-to-explore-ways-to-boost-IMF-bailout-fund-firepower.html
http://www.bbc.co.uk/news/business-15933685
The following from the report indicates just how bad things are:
Raoul Ruparel, of the respected think-tank Open Europe, said: "The fact banks seem to be hesitant to commit to even one-week ECB deposits highlights just how uncertain the situation has become – banks are keen to hold on to any liquidity given that the situation is now so serious it can change from day to day."
KENT COMMUNITY ACTIVIST: acerbic, carping, caustic, curmudgeonly,critical, cynical, grumpy, moaning, sardonic and plain speaking.
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