...at least the way French President François Hollande would like to see it develop.
According to FT, ahead of the EU summit, Hollande plans to propose that the European Central Bank be put in in charge of bank supervision and that European Stability Mechanisim be used to recapitalize banks directly. The ESM is the new €500bn eurozone rescue fund due to come into force next month.
Paris believes Italy and Spain are sympathetic to its proposals and that it is making progress with Germany. They will be part of France’s submission ahead of the EU summit to Herman Van Rompuy, head of the European Council, that will include Mr Hollande’s proposals for accompanying measures to stimulate growth, reports FT.
This notice is letting everyone know that the collapse isn't on for this week.
ReplyDeleteThere are still transfer fees and interest on E-Debt held in Belgian computers to hide and squander.
Look for spikes on certain futures graphs and limousine races to occur when "The Call" is made from Fed Headquarters in the City of London - or some other bunker.
This will let you know that it's over.
The Escape Jet Market's phones will be ringing off the hooks. Cultivate some quality friends in the Support Industries. They might tell you.
Charles Wilson