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SEP 03, 2013 - Zero Hedge

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A Complete Guide to European Bail-Out Facilities - Part 1: ECB

This post was originally posted at Bawerk.net. You may also follow us on twitter @EBawerk Over the last couple of years we have been tracking the various bail-out schemes concocted by ingenious Eurocrats. It is truly fascinating to observe these people get entangled in one lie after another; always trying to resolve the old lie with a new one. The hard cold truth is of course that Europe is bankrupt! They cannot repay what they owe and they cannot maintain a level of consumption that for most are far higher than production. A deep-seated fundamental restructuring is long over-due, but the ... Read More

Tags: A Complete Guide to European Bail-Out Facilities - Part 1: ECB,  Ltro Latest News