Europe’s debt crisis could be contained by using the EuropeanCentral Bank to make up to 5 trillion euros ($6.7 trillion) available through a euro-area rescue fund, according to a “strategy game”conducted by about 50 experts and former government officials
http://www.businessweek.com/news/2011-09-23/eu-plans-greek-buyback-program-open-to-all-debt-all-investors.html
IMF warns on private-sector deal for Greece
AFP - The International Monetary Fund warned Friday that Europe should not put through a 50 billion euro ($67 billion) private-sector restructuring plan for Greek bonds until Athens gets its economy back on course.
http://www.france24.com/en/20110924-imf-warns-private-sector-deal-greece
"The banking system has to shrink. It is too big, and yet we need to inject more capital into it. My guess-timate is that it is still 25 percent too big and shrinkage is needed both in Europe and in North America," he told the Institute of International Finance annual meeting.
http://www.reuters.com/article/2011/09/23/us-imf-banks-idUSTRE78M70P20110923
What is plain is that at an overnight emergency session of the G20 advanced and leading emerging markets economies here in Washington, the euroland leaders were read the riot act.
They were made to recognise that the falls in share markets around the world, which have impoverished tens of millions of savers and pensioners, are fed by fear for future global prosperity and are not the result of some Anglo-Saxon plot to bring down the single currency.
The reality is that months of appalling indecision, driven by some of the mini-countries within the monetary union, had in fact underlined the need for Germany and France to seize the political opportunity to bring the crisis to an end.
http://www.dailymail.co.uk/debate/article-2041230/EUROZONE-CRISIS-America-lost-patience-Europe.html
Six weeks to save the euro: Chancellor's warning after another day of financial turmoil
http://www.dailymail.co.uk/news/article-2041201/George-Osbornes-eurozone-crisis-warning-6-weeks-save-euro.html
http://www.reuters.com/article/2011/09/18/idUSL5E7KH0Q820110918
Rationale behind ECB opposition to burning bondholders
http://www.irishtimes.com/newspaper/finance/2011/0923/1224304577664.html
http://www.reuters.com/article/2011/09/23/us-imf-ecb-trichet-idUSTRE78M6VW20110923
The Resounding Message Coming Out Of The Bretton Woods Conference Is A Call For Leadership To Solve The Euro Crisis
http://www.businessinsider.com/the-resounding-message-coming-out-of-the-bretton-woods-conference-is-a-call-for-leadership-2011-9
Rationale behind ECB opposition to burning bondholders
http://www.irishtimes.com/newspaper/finance/2011/0923/1224304577664.html
European Debt Crisis: In Trichet We Trust
Sovereign debt, liquidity versus solvency
For most observers, it is blatantly obvious that Greece will default sooner rather than later. The medicine (austerity) has created a negative feed-back loop (destroying growth, worsening public finances) and the population seems exhausted. Looking at similar examples like Argentina 2001, people must be wondering why they're still in the euro. Argentina, after severing the links with the dollar and defaulting on its debt emerged out of a similar deep funk only to rise like a phoenix, averaging nearly 8% growth or so in the following decade.
http://seekingalpha.com/article/295561-european-debt-crisis-in-trichet-we-trust
Italy's Tremonti:Germany Must Overcome EU Skepticism -TV Interview
Tremonti said the Washington meeting was permeated by a lack of clarity on the steps to prevent the euro zone's troubles from dragging the global economy in a recession.
"In the world there's great confusion and preoccupation, which reflects in the works of the G-20," he told Sky. "In Europe, it's more or less the same. Actually, Europe is the origin of the confusion and preoccupation that is taking over the world.
http://tinyurl.com/3dxu6w7
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