FE_36

Is the last fortification falling down? Spain used backup. American debt can ask for a driving license. And Bulgarians are ungrateful. Silly season ended in a big style. ECB decided on its meeting last week to resurrect the program of purchasing bonds of the problematic states under a new label. Forget SMP, here comes new and better OMT – Outright Monetary Transactions! Apart from bubbles of active oxygen, it also offers lack of limits, sterilization and consolidation….

FE_32

Bouncer Ottmar Issing. ECB once again kept Greece in the game. Will the next five-year plan be merrier? Briefly today. Pandas are on holidays and without Angela Merkel who is having a rest and German Minister of Finance, Wolfgang Schauble, not much is going on in Europe. Mario Monti, Italian Prime Minister, informed Germans that he needs their help, not financial, but moral one. Spanish Prime Minister Mariano Rajoy considers asking Europe for help. Not…