one could ROTFL. (TD till death ;()
Really I posted that the central bank is not allowed to finance states. Well fact is the EZB has bought bond on the secondary markets. Well
obviously for lawyers this makes a "big" difference. The economic result still was the EZB has financed especially Greece. Now as you might know there
was a haircut for Greece. This has hold for all BUT ECB. ECB did get new EU covered "replacements", Privates were ousted. So far so bad
Anyway there is no limit to absurdity. Now the ESM should be established, this should be allowed to buy whatever junk it likes and now come the pure irony, and
ECB should give them money straight on the face value. Which means Spain issues Bonds. This bonds have to be treated as as good as "gold". (well no paper but you got the idea)
And for that Spain should get "fresh" money.
Well ECB dos not finance states directly ESM does and ECB must take all junk from ESM. You get the hardly fine taste of irony?
It's obviously for everyone just not completely ignorant of either economic or political things. That this is a template of a Ponzi-scheme. Maddoff has been given 150 years in jail for that....
Seems it will be much less dangerous for deledefs. May I say I'm massively angry about such "stuff". Hardly glorious bastards but still murderers