Just printed. Eurogroup ready to loan 100,000,000,000 euros to Spain's banks. [Archive] - Condo Forum Singapore Property Review Mortgage Loan Buy Rent Sell Real Estate

View Full Version : Just printed. Eurogroup ready to loan 100,000,000,000 euros to Spain's banks.

Arcachon

10-06-12, 13:55

http://infosthetics.com/archives/one_billion_dollars.jpg
x 125

http://infosthetics.com/archives/2009/01/one_billion_dollar_physically_visualized.html

BRUSSELS: Eurozone finance ministers on Saturday said the Eurogroup was "willing to respond favourably" and to the tune of 100 billion euros ($125 billion) to a bailout request from Spain for its troubled banks.

"The Eurogroup has been informed that the Spanish authorities will present a formal request shortly and is willing to respond favourably to such a request," the 17 ministers said in a statement issued after a two-and-a-half hour conference call.

The loan needed "to cover estimated capital requirements with an additional safety margin, estimated as summing up to 100 billion euro in total," the statement added.

The bank bailout will be provided through a special bank recapitalisation facility in the eurozone rescue fune, the EFSM/ESM.

The statement also said the funds could be paid to Spain's Fund for Orderly Bank Restructuring (FROB), which would then channel them to banks.

As for conditions in return for the loan, the Eurogroup said this should be "focused on specific reforms targeting the financial sector."

"We invite the IMF to support the implementation and monitoring of the financial assistance with regular reporting," the statement added.

- AFP/fa

http://www.channelnewsasia.com/stories/afp_world_business/view/1206671/1/.html

phantom_opera

10-06-12, 14:06

That is slightly less than Singapore GDP :doh:

Arcachon

10-06-12, 14:08

That is slightly less than Singapore GDP :doh:
It take a few million to work for 365 days for the Singapore GDP, it take a few key stroke to create 100,000,000,000.

Wonder how it feel like when you know someone who can just create billion of euro with just a few key stroke on the keyboard. Maybe if they can we also can.

kane

10-06-12, 14:11

Hello inflation, we meet again.

Arcachon

10-06-12, 14:14

Hello inflation, we meet again.

Quick go out and buy another property.

phantom_opera

10-06-12, 14:15

People like Mr B way under-estimated how much $$ G7 can print print print print print

US debt to GDP ratio can probably go to 150% without significant bond yield movement
Europe ... has even more room to print
China & India... interest rate too high, probably 1-2% drop of interest rate in next 3 months

Singapore - SIBOR at 0.1%??

Arcachon

10-06-12, 14:18

phantom_opera

10-06-12, 14:20

Please don't type the word "Mr B" cannot stand the 1000 page forum.

You know after I linked to the Taj Hotel in Udaipur ... this website immediately tries to sell me luxurious Indian Maharaja hotel stays

I wonder that advert will come out for HIM

phantom_opera

10-06-12, 14:22

http://www.channelnewsasia.com/stories/singaporelocalnews/view/1206623/1/.html

Garmen is considering minimum wage for certain sectors like cleaner, security guard ... :scared-5:

Arcachon

10-06-12, 14:27

You know after I linked to the Taj Hotel in Udaipur ... this website immediately tries to sell me luxurious Indian Maharaja hotel stays

I wonder that advert will come out for HIM

Then this website did not read the IPO of Facebook.

kane

10-06-12, 15:11

There are many ways to hedge against. All is within consideration, especially with those crates of monopoly money standing ready to be shipped out to spain.

Arcachon

10-06-12, 15:17

There are many ways to hedge against. All is within consideration, especially with those crates of monopoly money standing ready to be shipped out to spain.

Sorry to inform you, nowadays they don't need to ship crates of money. They just need to key in 100,000,000,000 to the computer. That is the reason why money is not Gold peg. Too troublesome to find, mine, process, ship, store, just key into the computer system and you get your Fiat money.

focus

10-06-12, 16:31

Now I really believe FIAT money.
Everyone can see it but all pretend not to see it and just keep playing. Very ponzi like.. except it's only the govts playing it.

All use left pocket out.. right pocket in technique..

azeoprop

10-06-12, 17:41

Soon a pack of 10kg fragrant rice will cost $50.... :eek:

phantom_opera

10-06-12, 18:20

kakakak .. still pale in comparison to the mighty US Fed:

This time (Operation Twist), the Fed will sell $400 billion from its holdings of short-term U.S. government debt – Treasury bills and notes that mature in three years or sooner. It will use that money to buy Treasury notes and bonds with maturities of six to 30 years. The Fed said the shift would be complete by June.

By comparison, the Fed spent about $2 trillion on two rounds of bond-buying designed to lower long-term interest rates. Economists generally agree that the Fed succeeded in driving rates down and kept the economy from getting worse. The Fed's total portfolio is $2.9 trillion, almost all of it in Treasury securities and mortgage-backed securities.

=> Now US Fed is holding both close to 2T short term and long term Treasuries ...they probably hold a few hundred billions mortgage-backed securities ... and how much that has turned BAD anybody knows? :tsk-tsk:

phantom_opera

10-06-12, 20:23

http://3.bp.blogspot.com/_4VTgs8ptENY/TPgTvVXvgTI/AAAAAAAAAJg/04SwbTsNq6I/s1600/FedBalanceSheet.jpg

after Operation Twist, about 2.9T:

http://online.wsj.com/article/SB10001424052748703709804575202514021110580.html

phantom_opera

10-06-12, 20:32

As of end of 2011

ikan bilis

11-06-12, 13:03

http://infosthetics.com/archives/one_billion_dollars.jpg

is that 12 twelve palettes of toilet paper ??... which angmoh ashhh so big one ??... :scared-4:

roly8

11-06-12, 13:30

is that 12 twelve palettes of toilet paper ??... which angmoh ashhh so big one ??... :scared-4:
lol:D:D:D :spliff::spliff::spliff:

kane

11-06-12, 13:30

Sorry to inform you, nowadays they don't need to ship crates of money. They just need to key in 100,000,000,000 to the computer. That is the reason why money is not Gold peg. Too troublesome to find, mine, process, ship, store, just key into the computer system and you get your Fiat money.

I meant it figuratively.

kane

11-06-12, 13:40

speculator

11-06-12, 17:33

You have to respect them. After the announcement, their currency actually went up instead.

If SG print more money. SGD straightaway depreciate

Laguna

11-06-12, 20:03

This is a very frightening news.....
more to come to cover the PIGS

Poloclub

11-06-12, 20:10

This is a very frightening news.....
more to come to cover the PIGS

nothing frightening lah. USA done it, EU doing, and next will be China.

Just have to brace ourselves for an era of high inflation.

Laguna

11-06-12, 20:52

nothing frightening lah. USA done it, EU doing, and next will be China.

Just have to brace ourselves for an era of high inflation.

why I am frighten is becos this is gg to be only and only one solution for all PIGS......more and more to come.......

hyenergix

11-06-12, 21:10

I think soon every household in Singapore will need to buy this and DIY:

http://www.canon.com.sg/business/products/personal-copiers/personal-copiers?languageCode=EN

kane

11-06-12, 22:04

I think soon every household in Singapore will need to buy this and DIY:

http://www.canon.com.sg/business/products/personal-copiers/personal-copiers?languageCode=EN

And they're sell the special fiat money paper soon. Like those photo paper customised quality.

phantom_opera

11-06-12, 23:13

China just lower interest a bit ... everybody in China chiong to buy properties ... :doh:

深圳楼市再现千人排队买房

http://money.163.com/photoview/50ST0025/4370.html#p=83N9FV5J50ST0025

Arcachon

12-06-12, 03:38

is that 12 twelve palettes of toilet paper ??... which angmoh ashhh so big one ??... :scared-4:
Zoom in for you. USD

http://infosthetics.com/archives/one_billion_dollars2.jpg

Toilet paper look like this.

http://smallidea.files.wordpress.com/2010/06/money-toilet-roll-dollar-bill-toilet-paper.jpg

hyenergix

12-06-12, 07:00

China just lower interest a bit ... everybody in China chiong to buy properties ... :doh:

深圳楼市再现千人排队买房

http://money.163.com/photoview/50ST0025/4370.html#p=83N9FV5J50ST0025

Property launch also got concert one.