ECB to address eurozone debt crisis 2/12/10

powderfinger

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The ECB meets in Brussels today and are expected to announce further measures to address the zone's debt crisis.
The 'markets' are waiting for an announcement after ECB president Trichet indicated that they may ramp up it's bond buying programme.
It is also reported that US Treasury undersecretary for International affairs,Lael Brainard,who oversees the Treasury's interest in the IMF, is in Berlin for meetings with European officials.It is rumoured that the IMF will increase their committment to further aid measures for the Eurozone crisis,which currently stands at €250 bn.

The crisis is getting crisisier.

ECB to address euro zone crisis - The Irish Times - Thu, Dec 02, 2010
The European Central Bank is widely expected to announce further measures to resolve the euro zone crisis at today’s meeting of ECB policymakers in Frankfurt.
Stock markets and European government bonds rallied yesterday amid anticipation that some form of announcement is imminent.
The cost of borrowing for euro zone countries fell in afternoon trading, while the euro strengthened against the dollar and yen.
Ireland’s theoretical cost of borrowing, which has been hovering at more than 9 per cent for almost a week, fell slightly. However, since concluding the terms of its rescue deal Ireland does not plan to borrow in the market for up to three years.
Report of US supporting more IMF aid props up euro

Reuters reported at midday that an unnamed U.S. official said the U.S. would be willing to have the IMF give more money to support the European Financial Stability Facility. The U.S. is the IMF's biggest stakeholder.
The EFSF is a 440 billion euro fund the Europeans put together as part of a broader 750 billion euros rescue package in May during the Greek debt crisis. The IMF has already pledged up to 250 billion euros.
 


HarshBuzz

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arrrrr, let's print more money me hearties! (not sure why that came out in a pirate voice)

ze Germans vill hate zis
 

Cassandra Syndrome

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Relax folks, our new leader has everything under control

 

HarshBuzz

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well, that was an anticlimax
 

Cassandra Syndrome

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Is he still waffling on at the press conference like, an oul fart that he is? As much of the burning murderous contempt I have for the Federal Reserve, at least their monthly announcement is completed in 50 secs. The rate, how busy the printing presses will be for the next month and a quick update on opiate optimistic economic outlook. Thats it, thank you back to the matrix with you.

Trichet goes on and on and on and on and on. At the end of the day he hadn't the balls to admit that the ECB is buying up the secondary market like there is no tomorrow.
 


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