Author: News Desk

ESM Banking License? Not Happening as Merkel Allies Harden Opposition
July 31, 2012 0

ESM Banking License? Not Happening as Merkel Allies Harden Opposition

By News Desk

It won’t. Bloomberg reports Merkel Allies Harden Opposition to Granting ESM Bank License German Chancellor Angela Merkel’s coalition rejected granting the permanent euro rescue fund access to European Central Bank liquidity via a banking license, as the Finance Ministry said it saw no need for any such move. The rules of the European Stability Mechanism don’t provide for refinancing through the ECB, the ministry in Berlin said today in an e-mailed response to questions.

Eli’s Olympics
July 30, 2012 0

Eli’s Olympics

By News Desk

Eli Rabett Eli Rabett Eli Rabett is a not quite failed professorial techno-bunny, a chair election from retirement, at a wanna be research university that has a lot to be proud of but has swallowed the Kool-Aid. The students are naive but great and the administrators vary day-to-day between homicidal and delusional

Foreigners Dump Nearly €80 Billion in Spanish Debt; Haircuts Come After More Dumping
July 29, 2012 0

Foreigners Dump Nearly €80 Billion in Spanish Debt; Haircuts Come After More Dumping

By News Desk

Foreigners Dump Nearly €80 Billion in Spanish Debt; Haircuts Come After More Dumping Through the first half of the year, foreigners reduced Spanish debt by Nearly €80 Billion as banks in Spain gobbled up more of the toxic garbage. Foreign investment in Spanish public debt has decreased by 7 €78.168 billion in the first six months of the year, standing at €203.271 billion euros, compared to €281.439 billion which reached the end of 2011. This is a break of 27.7% over last year