Monday, May 10, 2010

Plan #14,15, an 16 ie All In

By Sunday the Europeans not only put together a package, actually it looked like they put together a few packages. Helping equities and yields at the moment big time. Sounds like Europe went all in, if I were Greece I would take the money, reverse all the action last week and give everyone a pay raise.
Eurozone leaders have agreed on a bailout package of nearly $1 trillion (750 billion euro) for Greece, as part of their concentrated efforts to prevent the debt crisis contagion from spreading to other nations.

In a marathon 11-hour-long session that lasted till early morning today, finance ministers from the 16 Eurozone countries, along with International Monetary Fund (IMF) officials, agreed on a three-year aid plan for Greece.

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