i am still thinking about the way the politics is trying force an activity.
1st the efsf, thats a scout.
That has marginal success.
Now sending bigger scout ESM.
if bigger scout still fails , then behind is the lender of last resort.
ECB.
because its the resposibility of last resorts activate, when the need is at door.
if ECB , not have enough money to satisfy run on the banks, then they need switch on the printing press. Something they had resisted for long time.
Anyway the outcome would be nearly same.
weaker euro v s v.
Only the path is different.
Only that i find the way they want gambit the ECB distasteful.
politic, is beyond my scope.
but ECB seems ready
the have LTRo and all sorts liquidity plans already on table.
mostly when there is possibility happen, it will.
not a question of WILL?, a question of when?
for now only live firing exercises.
regards
1st the efsf, thats a scout.
That has marginal success.
Now sending bigger scout ESM.
if bigger scout still fails , then behind is the lender of last resort.
ECB.
because its the resposibility of last resorts activate, when the need is at door.
if ECB , not have enough money to satisfy run on the banks, then they need switch on the printing press. Something they had resisted for long time.
Anyway the outcome would be nearly same.
weaker euro v s v.
Only the path is different.
Only that i find the way they want gambit the ECB distasteful.
politic, is beyond my scope.
but ECB seems ready
the have LTRo and all sorts liquidity plans already on table.
mostly when there is possibility happen, it will.
not a question of WILL?, a question of when?
for now only live firing exercises.
regards