[P2P-F] Fwd: Europe : rescue package of €750 billion - getting governments deeper into debt - as gifts for the financial system ?

[Michel Bauwens]

---------- Forwarded message ----------
From: Dante-Gabryell Monson <dante.monson at gmail.com>
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: econowmix at googlegroups.com


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.



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