Eurozone Bail-Out: Holes Emerge in The ‘Grand Solution’ To Solve EU Debt Crisis!

• The Illuminist plan is for a global economic, financial and monetary collapse. They will bring about this calamity to ‘persuade’ the sheeple to accept their One World Currency and Global Supra-National Central Bank. I can’t tell you when exactly they will pull the plug. I doubt the current financial order can survive beyond 2012!
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  Eurozone bail-out: holes emerge in the ‘grand solution’ to solve EU debt crisis
  By  Bruno Waterfield, in Brussels, http://www.telegraph.co.uk/
  A trillion euro bail-out to save the EU’s single currency is in danger of   unravelling after Germany’s central bank warned that the rescue measure was too dependent on the high-risk deals that caused the economic crisis.
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  Hours after an all-night summit of euro governments ended, flaws began to emerge in a package that was billed as a “grand and comprehensive” solution to the European debt crisis.
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  The concerns were led by Germany’s powerful central bank, which expressed fears that a plan to leverage a €440 billion eurozone rescue fund to amass a “fire power” of €1 trillion, or £880 billion, resembled the risky finance methods that triggered the crisis in 2008.
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  EU leaders are expected to sanction the establishment of a so-called special purpose investment vehicle, or SPIV, to be set up in the coming weeks. It is aimed at attracting investment from countries such as China and Brazil.
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  Jens Weidmann, the president of the Bundesbank and a member of the European Central Bank, sounded the alarm over the plan to “leverage” the fund by a factor of four to five times without putting any new money into the pot.
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  He warned that the scheme could be hit by market turbulence with taxpayers left holding the bill for risky investments in Italian and Spanish bonds.
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  “It is tied to higher risks of losses and to increased sharing of risks,” said Mr Weidmann. “The way they are constructed, the leveraging instruments are not too different from those which were partly responsible for creating the crisis, because they concealed risks.”
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  … for more click here!

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