How French banks now print their own money

The article Seeking Alpha article, here, by Kevin McElroy is best read in full, from here. If not note this extract:

I won't get into the boring details, but thanks to a new loophole, French banks are now being allowed to print money into existence. It's a new regulation for 2012 that comes direct from the ECB. Remember - the ECB is supposed to be the steward of the Euro. It was the ECB that demanded Greece get its house in order. It's the ECB that cracks the whip over every Euro-zone member to try to keep them all in line.

BUT do visit the infographic linked to the article and here: