What does the below do to the productive nations assets and liabilities? Why stop at a number? Why not just guarantee all sovereign debt, start writing checks, and see where that leads instead of harboring cosmic uncertainty?
July 10 (Bloomberg) -- The European Central Bank is seeking
to have the euro-rescue fund expanded to include help for Italy,
Die Welt reported, citing unidentified “high ranking” people
at central banks.
The fund may have to be doubled to 1.5 trillion euros
($2.14 trillion) to cover a crisis in Italy, the ECB said
according to the German newspaper.
Central banks are no longer ready to buy government debt,
so the rescue fund should take on that task instead, according
to the bankers, Die Welt said preview of an article for
tomorrow’s edition.
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