---------- Forwarded message ---------- From: Dante-Gabryell Monson <[email protected]> Date: Wed, Oct 12, 2011 at 6:24 PM Subject: Europe : rescue package of €750 billion - getting governments deeper into debt - as gifts for the financial system ? To: [email protected] http://en.wikipedia.org/wiki/European_Financial_Stability_Fund http://www.efsf.europa.eu/about/index.htm The *European Financial Stability Facility (EFSF**)* was created by the euro area member states following the decisions taken May 9, 2010 within the framework of the Ecofin Council. As part of the *overall rescue package of €750 billion*, EFSF is able to issue bonds *guaranteed by EAMS for up to € 440 billion* for on-lending to EAMS in difficulty, subject to conditions negotiated with the European Commission in liaison with the European Central Bank and International Monetary Fund and to be approved by the Eurogroup. EFSF has been assigned the *best possible credit rating*; *AAA* by Standard & Poor’s and Fitch Ratings, *Aaa* by Moody’s. EFSF is a Luxembourg-registered company owned by Euro Area Member States. -- P2P Foundation: http://p2pfoundation.net - http://blog.p2pfoundation.net Connect: http://p2pfoundation.ning.com; Discuss: http://lists.ourproject.org/cgi-bin/mailman/listinfo/p2p-foundation Updates: http://del.icio.us/mbauwens; http://friendfeed.com/mbauwens; http://twitter.com/mbauwens; http://www.facebook.com/mbauwens