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Monday, December 12, 2011

Btw i love this quote from an S&P economist speaking on the Euro mess. Read it fast and i will translate.

Six said the summit had made progress "in terms of getting the governments mentally ready to commit in writing in some constitutional format to a medium-term fiscal strategy which would allow the ECB to become what it is not at the moment, at least officially, a lender of last resort."

Okay in other words, they are planning a plan to create plan. And you wonder why markets realize that they've essentially gone no where.

1 comment:

Josef said...

I believe this guy is spot on with his comments. Similar to what I posted couple of days earlier.