Debt crisis threatens European Central Bank

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Published on Jul 20, 2011 by

Crucial to how the current euro zone debt crisis plays out is the role of the European Central Bank.




Under President Jean-Claude Trichet, the ECB has bought large amounts of debt - that is government bonds - from Greece and other countries with shaky economies - including Portugal, Ireland, Spain and Italy.




Greek bonds alone account for 190 billion euros of what the ECB has lent according to calculations by the think thank Open Europe.




That is twice the amount the Bank has in its reserves and even a partial default would leave it insolvent.
...
http://www.euronews.net/

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  • @Kuetonius Interesting you should say that "...thats puttin it mildly." since "Puttin" wont be mild about anything when he gets back into the chair next year in Russia.

  • @DeutschesLeid I don't have a problem with Jews staying out of European issues just as long as Europeans recognise that they are Romans and should stay out of Israeli issues. Fair enough?

  • @thelastroadrunner Jews are Asians and should stay out of European issues.

  • @Lodine66 oh please.... it's the entire system thats to blame , the bankers ( whatever nationality they are ) didn't do anything that the system doesn't reward. Removing them doesn't solve the problem if the system continues to reward people for being greedy ,selfish , coldhearted and ruthless...

  • Plant vegetable gardens and fruit trees EVERYWHERE!

  • The Rothschild's and company are not true Jews.  Don't blame Israeli Jews for world debt enslavement because it has nothing to do with them.

  • philipnute com or zsezse com

  • fasten ur sealtbelts folks...itz gonna b a rough ride...& thats puttin it mildly :(

  • Smoke 'em if ya got 'em. Only a matter of time before this all comes crashing down.

  • EUROZONE, Y U NO BREAK UP ALREADY!?!?11

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