According to UK Telegraph Italy and Spain About to Get a $600 Billion Bailout (06/20/12)
From The Telegraph:
Under the proposed deal, two European rescue funds – the £400 billion (€500 billion) European Stability Mechanism (ESM) and the £200 billion (€250 billion) European Financial Stability Facility (EFSF) – will buy bonds issued by European countries.
Previously, money in these funds — which has been provided by members of the single currency — has been used to bail out smaller European countries such as Greece, Portugal and Ireland. Governments in these countries were offered money directly in return for agreeing to austerity programmes. Under the new plan, the money in these funds will not be given directly to governments but will instead be used to buy up debts on the financial markets.
For full story go to The Telegraph.
Most Recent Posts
- Gold Futures Looking Bullish - Adam Hamilton (01/20/2017)
- Raising Cash Reserves Now To Use Later Is Key To Winning in 2017 - Mike Swanson (01/20/2017)
- George Soros Says Trump Will Fail Stocks Will Meltdown (01/20/2017)
- Podcast - David Skarica on the Wild Action in Uranium Stocks - Mike Swanson (01/19/2017)
- Is China About to Dethrone the US as the World’s Economic Leader? - James Holbrooks (01/19/2017)
- The Libertarian Angle: Trump's Wall - The Future of Freedom Foundation (01/19/2017)
- At Davos Joe Biden Blames Russia For All The World's Woes - Mike Swanson (01/18/2017)
- Are Bank Stocks Jim Cramer's New Momentum Monsters? - Mike Swanson (01/18/2017)
- Executive Power In The Age Of Trump - Daniel McAdams (01/18/2017)
- Patience Pays Off with CHK Using Momentum Reversals - Chris Vermeulen (01/18/2018)
Grab This Free Report: Our Top Donald Trump Stock To Trade
This free special WSW report is devoted to the emergence of new stock market sector leadership following the election of Donald Trump. It includes our latest stock pick to benefit from Trump's programs. Do not think about buying any other stocks before you read this report. To get this report click here