BBC News
October 27, 2011
The eurozone has done a deal or has it? The rabbit the leaders pulled out of their hat was a deal with the banks for a 50% haircut on Greek debt. The details though will not be settled until the end of the year.
Then there's the euro bailout fund - the details will not be agreed until the end of November. However in case it's unclear, Herman Van Rompuy, the president of the European Council, had this to say:
"The leverage could be up to one trillion [euros] under certain assumptions about market conditions and investors' responsiveness in view of economic policies."
Mmmm. I can't help feeling that this deal is not yet the real deal.
More
No comments:
Post a Comment