- EU / CROATIA : Zagreb Now Set To Become EU Member #28...In 2013.
- PHILIPPINES /USA : Stranded US Naval Warship Finally Dismantled.
- COSTA RICA: Currency Intervention Predicted As Colon Surges Vs USD.
- ITALY: 12 Dec UPDATE: Is Silvio's 'Friend'...Key Sex Trial Witness Ruby The Heart Stealer...On The Run? Ruby Finally Surfaces...In Mexico!
- PERU: Sand Fly Bite...Morphs Into Horror Story For American.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- BRASIL : Dilma Wins Port Privatization Approval From Congress.
- MUSIC FOR MONDAY: From SWEDEN / AZERBAIJAN : Eurovision Winner Loreen Sings "Euphoria."
- GUATEMALA : Court Throws Out Rios Montt Genocide Conviction; Trial Restart Ordered.
- VENEZUELA :6 March UPDATE: Shooting At Caracas Opposition Rally Wounds Capriles Supporter.
01 December 2011
"A joke making the rounds: A Greek, an Italian and a Spaniard walk into a bar. Each orders a drink. Who pays? The German."
After yesterday's massive co-ordinated cbanks liquidity move...that eerily aped an Oct 2008 Lehman action...markets surged...because it foreshadows probable future moves....and... of course... buys more time.
The technical 50 bps rate decrease... may also lessen banks' needs to sell assets at fire sale prices.
But..."Euro-area policy makers have been trying to figure out how to exit the current crisis and create an appropriate institutional structure," says an economist. Unfortunately..."the attempt to meet these objectives simultaneously has...contributed to worsening the crisis."