Print or Die

The spread versus bunds that the the European rescue facility, the EFSF, is borrowing at has blown out to a record 147 bps. This is all happening before the EFSF needs to borrow in order to fund Italy. It is not going to happen. The EFSF will not get funded without the ECB. The EU has a simple choice, print or die. ht @credittrader



 

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