As the Caissons Go Rolling Along

[don]

Forget the bazookas....

“Lending more money to already overborrowed governments does not solve their problems,” Carl Weinberg, chief economist of High Frequency Economics in Valhalla, N.Y., said in a note. “Had we any Greek bonds in our portfolio, we would not feel rescued this morning.”

For all the excitement about the scale of the effort, it is important to remember that the core fund does not now exist.

http://www.nytimes.com/interactive/2...tml?ref=global

(Interactive Euro debt maps)

“It shows that Europe can come together,” said a banker with close ties to the fund who was not authorized to speak on the record.

Like a bridge*.

(*If you remember the Fireside Theater. Where are these guys when we need them?)


http://www.nytimes.com/2010/05/12/bu...ef=todayspaper

[Olduvai]

Re: As the Caissons Go Rolling Along

The UK will not participate in this S.P.V.
When they would have done they, in return, could have applied for help in the near future.
The rumour is the Pound will be in trouble this summer.
So why didn't they participate ?
Pound stronger then we think ?