Sunday, September 25, 2011

IMF and the Eurozone Crisis

BBC News: Reports that the IMF has stated that it does not have enough funds to deal with all the debt in the eurozone and banking system. As noted yesterday by the Telegraph the Germans and French are developing a plan to save the Euro and the banks that will cost trillions of Euros. Thus far no one has said who will give these trillions. Words are fine folks, but it takes action, and money, thus at its most basic we have TRILLIONS + EUROZONE = WHO PAYS. If it is just the German and French taxpayer it is not going to happen, if it is the seventeen nations of the Euro its not going to happen, if it Euro bonds underwritten by the Germans its not going to happen, any plan has to have the support of the voter folks, none of the plans would benefit any government, in fact they would fall. Interesting week ahead folks on the markets.

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