Late Morn'in Coffee,
I noted (MJG's, Greek Tragedy thread) a possibility of the actions now reported in this short note in the link. I will maintain that some of the politicos in various countries are playing some very dangerous games with their actions of continued tinkering with money. The money being bonds; the overwhelming source of funding for functioning and maintaining of governments of all levels, in all countries; as well as the health and well being of many companies everywhere.
You may choose your own judgment about this; but my opinion remains that this action is a most serious and dangerous game being played. I will classify this in my file folder under the heading: "They don't know, that they don't know".
http://blogs.wsj.com/marketbeat/2012/02/17/ecb-debt-swap-puts-dagger-in-heart-of-europes-bond-market/tab/print/Be careful out there; the investment road continues to have too many potholes that may damage one's investment vehicle.
Catch
Comments
http://www.atimes.com/atimes/Global_Economy/NB18Dj02.html
Big Budget Deficit
In theory austerity works. In practice it does not. The only way out of debt is maintaining growth and redirecting a portion of growth to debt reduction. Otherwise it is race to the bottom. It is like fire will spread until there is nothing more left to burn. Than you will have to rebuilt from ashes.
Last week China and Japan pledged to help the IMF, but it is unclear if that is enough since both countries have their own internal problems.
http://www.bloomberg.com/news/2012-02-19/japan-china-will-help-europe-solve-debt-crisis-through-imf-azumi-says.html