Euro-TARP: The Euphoria Didn’t Last

    As I wrote here yesterday, we ‘ve just seen the remarkable spectacle of more than a dozen fractious finance ministers come together to puncture the risk of a Lehman-style market debacle. Taking a page out of Ben Bernanke’s playbook, they cobbled together and announced a package of 750 billion euros (nearly a trillion dollars) in liquidity guarantees. Think about that number. It’s twice the size | Read More »

    Euro-TARP: The Euphoria Didn’t Last

    As I wrote here yesterday, we ‘ve just seen the remarkable spectacle of more than a dozen fractious finance ministers come together to puncture the risk of a Lehman-style market debacle. Taking a page out of Ben Bernanke’s playbook, they cobbled together and announced a package of 750 billion euros (nearly a trillion dollars) in liquidity guarantees. Think about that number. It’s twice the size | Read More »

    Europe: A TARP of Their Own [Updated]

    Holy smokes, people. They said it couldn’t be done. But it looks like the European finance ministers decided to get together and disprove everyone who has been saying for days now that they couldn’t even come close to acting in a coordinated way. They pulled 440 billion euros out of a hat, as a bailout fund for sovereign states. The IMF kicked in another 250 | Read More »

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    Europe: A TARP of Their Own [Updated]

    Holy smokes, people. They said it couldn’t be done. But it looks like the European finance ministers decided to get together and disprove everyone who has been saying for days now that they couldn’t even come close to acting in a coordinated way. They pulled 440 billion euros out of a hat, as a bailout fund for sovereign states. The IMF kicked in another 250 | Read More »

    Tags: