It is a shame that Woody Allen does not come to Europe and makes a film about all this mess related to the euro. I am fed up that nobody seems to find the funny side of all this uncertainty. If the world is going to end tomorrow maybe we could enjoy the last moments by having a laugh and if it does not end so soon maybe we could relax and laugh too.
Anyway, these last days and weeks there are strange words that we hear everyday on the news. So here I will try to know a little about them. Normally I do that just for me but thanks to the Internet I can share my searches with anybody visiting this post.
Well, these days I read quite oft the word EFSF (or something like this because I read in other languages besides the English one)
I read at Wikipedia that EFSF means European Financial Stability Facility Once that said let me add that now this seems something to be change for another thing! Like the world of iPhones, tables, computers, etc this European systems also seem to have a very short live even before they begin to work. Maybe I should even be ashamed of being writing still this post and not changing to another one. How can I still be writing the same post still?
As you can see I do not concentrate in one thing and I mix one thing with another. Well, I am doing this in purpose to show the world in which we are living. We seem to be living in a constant crazy time. Now everything should be done in a hurry.
It is as if have created a world that it is our fast for ourselves. But let me talk about the EFSF. One moment, I want to check the news for one moment. Maybe the Euro has collapsed and this is been an outdated post.
Well it seems that during the minutes I have been writing this nothing serious has happened.
In http://en.wikipedia.org/wiki/European_Financial_Stability_Facility you can know something about the EFSF or EUROPEAN FINANCIAL STABILITY FACILITY. It seems that the EFSF will be replaced when it ends with the ESM or EUROPEAN STABILITY MECHANISM. As far as I understand the EFSF will issue some bonds. In order for these bonds to be good there is the need of warranties and alo the fact that there are countries behind them with a AAA rating. If you look at the warranties one can see that Germany gives the greatest warranty but if you look into the warranty per capita then you see that a lot of countries give a similar warranty per person. Well, similar or not similar … Germans €1,454.87 and Portuguese, for example, €1,037.96.
What are the warranties? Buildings? Gold in central banks? And … if one country needs the EFSF does it have still to be inside the EFSF?
If you want to know about the successor of EFSF you can go to http://en.wikipedia.org/wiki/European_Stability_Mechanism
I would like to put links to official websites about these mechanisms but I doubt that the EU official websites have in mind the common citizen who just wants to understand something.
- EU urges swift Slovak adoption of EFSF changes (marketwatch.com)
- Barroso demands ban on bonuses at weakest banks (independent.co.uk)
- Germany Merkel: ‘Very Optimistic’ Slovakia Will Approve EFSF (forexlive.com)
- EU Urges Slovakia To Approve EFSF Enhancements (forexlive.com)
- Slovakia rejects EFSF expansion (business.financialpost.com)
- REPORT: Slovakia Has A Deal On The EFSF (businessinsider.com)
- Woody Allen | 1983-1991 (ghostlifeghostlife.com)
- Slovak parties scramble for quick deal on EFSF – Reuters (news.google.com)
- Woody Allen Wants To Make Michelle Obama A Star [Dirtbag] (jezebel.com)