Monday, September 26, 2011

Olli Rehn flounders again!

Reuters has the best summary that I have found on the complete lack of any progress over the weekend on the Euro crisis, linked here. This quote from their report sums it up very well:

A senior European official hinted that kind of firepower was being contemplated.
"We need to find a mechanism where we can turn one euro in the EFSF into five, but there is no decision on how we could do that yet," the official said.
Financial markets signaled some doubts that bolder steps would emerge soon given a lack of details from weekend comments and differences between euro zone leaders.

The Irish Times, uniquely involved in the Euro mess and following it in the English language, also picks Olli Rehn to open their report but significantly gives him very little coverage in the article, read here. Their report indicates that the IMF head Christine Lagarde, see post beneath this is aware that more funds from the IMF could prove poblematic:

IMF managing director Christine Lagarde said it was “ready and it will deliver on any type of resources necessary and available to all members . . . By resources I mean everything that the fund can deliver, from policy advice, from being the trusted adviser and the facilitator, to organising facilities that are needed.”

Labels: , , ,


Post a Comment

<< Home