And nor is it possible to rely on anything printed in the Telegraph, which is now so committed to the Save the Euro propaganda campaign that today's editorial openly advocates that the ECB should break the law, mere "niceties" as it says.
Robert Peston is a liar.
It's obviously not true that "there's only 250 billion euros left in the bail-out kitty", because the EFSF has never had anything like that sum.
And he must know this, because it's not exactly difficult to look on the EFSF website and discover that its original subscribed capital was negligible, and to then subtract the sums it has disbursed from the sums it has borrowed to obtain an estimate of how much there is left in the "kitty".
€16 billion borrowed:
minus €9.5 billion disbursed:
leaves €6.5 billion to hand, nothing like €250 billion.
And of that €6.5 billion, the €3 billion borrowed on Monday will be sent to Ireland today, leaving just €3.5 billion in the "kitty".
Posts
