Friday, January 06, 2012

Statement on €380 million today poured into Piraeus Bank

Read it from here. It is not from the EU. So far I have been unable to find the rules under which the money has been advanced, nor any other detail. What has happened to the EFSM, EFSF, ESM, and all the other emergency facilities supposedly in place for Greece.

Mme Christine Lagarde, head of the IMF, this afternoon is reported as stating in South Africa, that the euro will not just vanish this year, read here, does she mean much of it will be found somewhere on the books of the Piraeus Bank?

Why has the IMF not been involved in this latest Greek aid, not to mention the ECB, are they not supposed to be in overall control of the banks within the Euro Zone?

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