Where Is the Money for Euro Rescue?

Bill Jamieson, The Scotsman September 27, 2011

id="ds-firstpara" class="ds-firstpara">Reading the breathless reports of a massive two trillion Euro (£1.7 trillion) bail-out plan to buy up Greek debt, save the Euro and pull the financial world from catastrophe, I was reminded of the popular cook of the rationing era who would begin her recipes with the breezy admonition: "Take a dozen eggs..."

Christine Lagarde, the IMF's managing director, seems to have started from the same cheery position. Never mind that banks are on their knees and Euro zone governments are out of money: "Take an enormous Euro zone mega-fund..."

Where Is the Money for Euro Rescue?

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