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Confused, how does bail out solve problem?

  • 28-11-2010 8:30pm
    #1
    Closed Accounts Posts: 192
    ✭✭


    I'm confused, which worries me.

    The banks are bust. That's why they are borrowing 130bn from the ECB, but nothing in the four year plan or tonights announcement adressees this. The news as I see it is that there is no news. Are we any the wiser as how the banking crisis is to be resolved?

    JC

    PS to elaborate a little, while borrowing 130bn from the ECB, does anyone really think that putting in an extra 10bn will get bond holders giving money to our banks again, I do not.


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Comments

  • Registered Users, Registered Users 2 Posts: 1,206 zig
    ✭✭✭


    jcollery wrote: »

    PS to elaborate a little, while borrowing 130bn from the ECB, does anyone really think that putting in an extra 10bn will get bond holders giving money to our banks again, I do not.
    No, I really think the interest rates are going to get even higher tomorrow.


  • Registered Users, Registered Users 2 Posts: 24,537 Cookie_Monster
    ✭✭✭✭


    it doesn't solve the problem, it just pushes it down the road for the next gov to try and deal with it.


  • Closed Accounts Posts: 192 Justin Collery
    ✭✭


    zig wrote: »
    No, I really think the interest rates are going to get even higher tomorrow.

    Are you suggesting that the repo rate from the ECB will increase from the 1.5% to something closer to market reality. I had anticipated that would happen. As a result of today's announcements but nothing I have seen yet indicates that, and thats my basic problem, there is nothing new here, what have we actually agreed to?


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