EU steps further into bizarro-world...
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John Clark
Dec 19, 2011, 8:22:53 PM12/19/11
to MonitoringTheMadness Google Group
All,
This latest EU proposal is classic insight into how desperate and bizarre the eurocrats scramblings for a solution has become.
As pointed out by ZeroHedge here, we find that the eurozone nations are proposing to provide funds to the IMF which, as it is proposed, will then be turned right around and through the miraculous wonders of leveraged financial engineering and paperwork, be deployed back to eurozone nations as YAB (Yet Another Bailout).
But, the story goes even deeper into bizarro world when we find read in that proposal that Italy and Spain will be supposedly be providing very large sums to this IMF pool to.... wait for it.... bail out themselves!
Bizarro world indeed. And a sign of how desperate things are becoming.
Cheers
John
This latest EU proposal is classic insight into how desperate and bizarre the eurocrats scramblings for a solution has become.
As pointed out by ZeroHedge here, we find that the eurozone nations are proposing to provide funds to the IMF which, as it is proposed, will then be turned right around and through the miraculous wonders of leveraged financial engineering and paperwork, be deployed back to eurozone nations as YAB (Yet Another Bailout).
But, the story goes even deeper into bizarro world when we find read in that proposal that Italy and Spain will be supposedly be providing very large sums to this IMF pool to.... wait for it.... bail out themselves!
Bizarro world indeed. And a sign of how desperate things are becoming.
Cheers
John
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