Tuesday, 29 November 2011

All a dither

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.


See also:  http://www.telegraph.co.uk/finance/financialcrisis/8924822/Eurozone-agrees-to-explore-ways-to-boost-IMF-bailout-fund-firepower.html

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."

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