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Monday, March 26, 2012

Problem Solved?

Despite the hype from the Eurozone that all is well and that problems are being resolved, it seems that some are still rather worried about the reality.

The Telegraph reports that Klaus Regling, head of the European Financial Stability Facility (EFSF), has warned that the eurozone must reinforce its firewalls to avoid more market volatility.
"More money would reassure markets. Wrongly or rightly the fact is that big numbers in the shop window create calm." 

Even Angela Merkel appears to be prepared to yield to the pressure and agree to combine the EFSF and its permanent replacement, the European Stability Mechanism (ESM).

As to whether these vehicles actually have any funds in them is of course another issue!

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