Some more exciting news about the imminent Eurozone collapse, that’s exposing more of the bankers misdeeds and corruption
When Abram Brown writing in Forbes, http://www.forbes.com/sites/abrambrown/2012/07/26/draghi-well-do-whats-needed-to-save-the-euro/ suggests that the European Central Bank is willing to pump more cash into the ailing Spanish banks.
And its President, Mario Draghi saying “To the extent that the size of these sovereign premia hamper the functioning of the monetary policy transmission channel, they come within our mandate,” in a speech in London today, according to Bloomberg. ”Within our mandate, the ECB is ready to do whatever it takes to preserve the euro…believe me, it will be enough.”
And in Augustino Fontevecchia’s article, http://www.forbes.com/sites/afontevecchia/2012/07/25/spain-to-lose-market-access-in-3-to-5-weeks/ as he writes:
“Markets were temporarily relieved on Wednesday after ECB board member Ewald Nowotny said the ESM should be given a banking license in order to effectively fund itself and play its role in crisis prevention.”
“Speculation that the ECB will return to its bond buying programs, and possibly launch a wider QE-like asset purchase program, has been consistently rejected by ECB and German officials. But, if push comes to shove, they may have no other option”
Is this saying that the European banks will be taking over the debt of these countries on German taxpayers base, bailing out the banks and while delaying the inevitable, just makes the hole much deeper?
Precious metals as a currency becomes more attractive and governments more suspect for your investment’s home.
How are you building wealth?
Join our forex trading business opportunity...
... make money helping others trade forex successfully.