Euro zone and International Monetary Fund officials have discussed the idea of the European Central Bank lending to the IMF, to provide the fund with sufficient resources for bailing out even the biggest euro zone sovereigns, officials said.
"Some discussions on this have taken place... It could be one way of getting around the legal restrictions on the ECB," one official with knowledge of the talks said. A second official said ECB lending to the IMF was being explored.... (emphasis added)
Read the rest at The Huffington Post
Reuters: European Officials Discuss ECB Lending To IMF For Euro Zone Rescue
Paint yourself into a corner and cut through the wall to get out.
more like bash the wall down.
ReplyDeleteSometimes when I see and hear stuff like this I almost feel hopeful since the likelihood of a staged and planned conspiracy drops that much more.
Makes sense from the ECB’s point of view: if the IMF are big enough mugs, it enables the ECB to load the risk involved in buying worthless Greek debt onto the IMF.
ReplyDeleteBTW, I’ve just scribbled “I.O.U. $10m” on a scrap of paper. Would anyone like to send me $10m in exchange for this bit of paper?