Skip to comments.IMF Official Floats Euro Zone Bond-Buying Idea, Backs Away
Posted on 10/05/2011 8:03:31 PM PDT by dynachrome
An International Monetary Fund official said Wednesday, the global lender could buy Spanish or Italian bonds alongside a euro zone bailout fund, but he later appeared to back away from his own suggestion.
Antonio Borges, the IMF's European head, told a news conference the IMF could possibly "invest alongside the European Financial Stability Facility (EFSF) . We would certainly be ready to play that role."
Earlier in the day, he said Europe needs between 100 billion and 200 billion euros ($134 billion to $266 billion) to recapitalize its banks to win back investor confidence. Later, however, Borges issued a statement saying he wanted to "be clear about some earlier comments" and poured cold water on the notion that the IMF was ready to take an expanded role in quelling Europe's crisis.
(Excerpt) Read more at cnbc.com ...
I don’t care what they plan and scheme, someone is going to get screwed. You know it is on it’s last legs when the EU Central bank is talking about using “leverage” for the bailouts. Anyone with the least bit of sense would be pulling their money out of the big EU banks and bonds.
Europe needs between 100 billion and 200 billion euros ($134 billion to $266 billion) to recapitalize its banks to win back investor confidence.Seems like it was just a year ago that the Chinese and Europeans were telling Zero his printing press and paper monetary policy was all wrong.
“between 100 billion and 200 billion euros”
Pikers. Wake me when it gets to the trillions!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.