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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
http://www.zerohedge.com/article/eu-pulls-out-nuclear-option-proposed-500-billion-euro-bail-out-package-largest-history
"Germany proposed on Sunday evening the establishment of a comprehensive plan of financial aid can be used for countries in the euro area, totaling 500 billion euros and involves the IMF, told AFP European diplomatic source. "Germany has put on the table a proposal of 500 billion euros," she said. It would include 60 billion euros in loans from the European Commission, he was in the last day, and 440 billion would accrue if necessary, the euro zone countries and the International Monetary Fund. This envelope would be established "bilateral loans, collateral for loans and lines of credit from the IMF," the source said. It would be in scale, if the subject of an agreement, an assistance plan is unprecedented in history.
Uhm, we have one simple question - where will the money come from? The EUR is surging currently on the kneejerk, although for all those who realize that the next step in this now entirely Federal Reserve mandated playbook is debt monetization, it provides just a good re-shorting opportunity. Of course, before our own Maestro Junior finds a new and improved way to pummel the greenback."
http://news.bbc.co.uk/1/hi/business/8669488.stm
""We will defend the euro whatever it takes. We have several instruments at our disposal and we will use them," Mr Barroso told a news conference afterwards. "
"Germany's Chancellor, Angela Merkel, said the mechanism would send a "very clear signal" to market speculators to back off. "
i got out with small profits, i dont think so we will have any reliefs soon, however i am doing it very safe moving my sl to break even after 10 pips.