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German Budget Committee Caps EFSF Guarantees At €211 Billion
Bloomberg has just disclosed a statement from the German Budgetary Committee which is critical to the future shape of the EFSF: GERMAN CDU/CSU PARLIAMENTARY SPOKESMAN SCHARLACK SPEAKS ON EFSF GERMAN BUDGET COMMITTEE SETS CONDITIONS FOR EFSF LEVERAGING GERMAN BUDGET COMMITTE GUIDELINES VOTE EXCLUDES LEVERAGING BUDGET COMMITTEE SAYS EFSF REPOS MUSTN'T RAISE GUARANTEES GERMAN BUDGET COMMITTEE SAYS EFSF LEVERAGING MUST EXCLUDE ECB GERMAN BUDGET COMMITTEE BACKS EFSF DRAFT GUIDELINES So far so good... But this... BUDGET COMMITTEE SAYS EFSF GUARANTEES MUSTN'T EXCEED EU211 BLN ...Is not good. If this is the core guarantees ... (full story)
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