Flowcharting The ECB's Known Unknown Next Steps

Tyler Durden's picture

The ECB's announcement that it stands ready to act, first despised then embraced by the market, has left as many questions as it answers. Barclays has prepared a simple flowchart of the known unknowns from what has been discussed so far - starting from our premise that things have to get a lot worse before they get better since any action is contingent on countries (cough Spain cough) first losing face requesting help from the EFSF.

 

 

Source: Barclays