From Peter Tchir of TF Market Advisors
ECB Bond-Buying Should End With New EFSF, German Motion Says
I think this is one of the most important bits of news on the day. This and the fact that the Dutch finally said something - and it wasn't positive.
I have been arguing that the solutions create contagion rather than prevent it. I've also argued that the ECB and EFSF and to some extent the IMF are all the same pools of money.
Now that Europe has actually tried to do some calculations, which it is apparent that up until last week, they hadn't done, they are coming to the same conclusion.