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To Lever EFSF or Not Lever EFSF, That Is The Question And Whether 'Tis Merkel Or Juncker, It Appears We All Suffer From Uncertainty

Tyler Durden's picture




 

The last few days have seen a veritable avalanche of to-ing and fro-ing among the various players in the Shakespearean melodrama that is Europe. While their quotes and headlines have all too often just run in circles, we thought the compare and contrast of Ms. Merkel and Mr. Juncker was particularly intriguing, to wit:

 

*MERKEL SAYS MAY BE NEED TO RECAPITALIZE BANKS, NOT YET SURE

*MERKEL SAYS CRITERIA NEEDED TO ASSESS BANK CAPITALIZATIONS

*MERKEL SAYS STATES OR EFSF CAN RECAPITALIZE BANKS

*MERKEL SAYS EFSF CAN BE USED AS LAST LINE TO RECAPITALIZE BANKS

*MERKEL SAYS EFSF FOR USE ONLY WHEN EURO AS A WHOLE IN DANGER

But...

*JUNCKER SAYS EFSF COULDN'T HANDLE ANY ITALY RESCUE

*JUNCKER SAYS MUST USE EFSF AS EFFICIENTLY AS POSSIBLE

*JUNCKER DOESN'T SEE ECB INVOLVED IN FUTURE EFSF LEVERAGING

*JUNCKER SAYS EFSF CEILING SHOULDN'T BE RAISED

*JUNCKER SAYS EU CRISIS RESPONSE IS LAGGING MARKETS

Source: Bloomberg

 

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Thu, 10/06/2011 - 11:39 | 1745877 wang (not verified)
wang's picture

Yesno

Thu, 10/06/2011 - 11:42 | 1745892 Pladizow
Pladizow's picture

Where are all these broke nations getting imaginary money from to establish a magical bail out fund?

Thu, 10/06/2011 - 11:50 | 1745963 Dr. Engali
Dr. Engali's picture

They are all printing at the same time and throwing everybody off guard. You never know which way to trade because they will switch the story at a moments notice.

Thu, 10/06/2011 - 11:43 | 1745914 wombats
wombats's picture

When a woman says "No" she means NO!

Don't you know what NO means?

Thu, 10/06/2011 - 11:44 | 1745925 SheepDog-One
SheepDog-One's picture

'Maybe'?

Thu, 10/06/2011 - 14:14 | 1746650 AldousHuxley
AldousHuxley's picture

What does it mean when a women says "My little nightstick's going to get a workout tonight"

 

http://www.youtube.com/watch?v=lBxPzhXFT6c

Thu, 10/06/2011 - 11:39 | 1745884 SumSUN
SumSUN's picture

Major Cog dis.

Thu, 10/06/2011 - 11:40 | 1745887 sulfur
sulfur's picture

stresstest anybody?

Thu, 10/06/2011 - 11:47 | 1745945 wombats
wombats's picture

Stress Test?  I'd rather have some Percocet instead.

Thu, 10/06/2011 - 11:40 | 1745890 TradingJoe
TradingJoe's picture

last ramp today folks! then we're diving, real deep this time, me think 1010?!?!

Thu, 10/06/2011 - 11:46 | 1745934 SheepDog-One
SheepDog-One's picture

This is like watching a suspense thriller movie youve already seen 50 times. You know the ending.

Thu, 10/06/2011 - 11:40 | 1745891 Fips_OnTheSpot
Fips_OnTheSpot's picture

Esp in the light that JCT took part in the meeting which outcome Merkel "declared".

Was more intrigued about all the talk about "more control + regulations" on international money flow

Thu, 10/06/2011 - 11:40 | 1745893 Motley Fool
Motley Fool's picture

Maybe

Thu, 10/06/2011 - 11:40 | 1745894 vote_libertaria...
vote_libertarian_party's picture

D'OOHHH!!!

 

The bot code is 'uncertainty = buy buy buy'

 

Well, actually, in bot code everything = buy buy buy.

Thu, 10/06/2011 - 11:41 | 1745897 GeneMarchbanks
GeneMarchbanks's picture

We're agreeing as we go along... possibly... it's all good maybe

Thu, 10/06/2011 - 11:41 | 1745901 Irelevant
Irelevant's picture

New EU resque programme to be called Schizophrenia.

Thu, 10/06/2011 - 11:42 | 1745910 sabra1
sabra1's picture

if i were a politician, earning a big fat salary, great pension, and of course inside info on stock markets, i would say whatever necessary to pad my pockets!

Thu, 10/06/2011 - 11:53 | 1745983 CrashisOptimistic
CrashisOptimistic's picture

THAT is exactly what is going on, regardless of motivations.

These people have been instructed that news reading algorithms are keyed to certain words the bullish programming wants to hear.  

Agreement.  Cooperation.  Recapitalize the banks.  Provide funding to Greece.  "Default will be avoided".  "Take action".  

Look carefully at the headlines and how these phrases dominate over the past 72 hours.

Thu, 10/06/2011 - 11:44 | 1745919 Zonker
Zonker's picture

The correct answer is the V bottom is in.  Big money is now buying and ZH is letting another one slip away with doom and gloom instead of trading the market in front of you.  100 handles of profit doesn't ask you how you made it!

Thu, 10/06/2011 - 11:48 | 1745948 SheepDog-One
SheepDog-One's picture

Go back to Yahoo! Finance. Fuckin idiots talking about their '100 handles' and 'smart money' piss off ya dick.

Thu, 10/06/2011 - 11:49 | 1745960 TradingJoe
TradingJoe's picture

Suit yourself bubba!

Thu, 10/06/2011 - 11:54 | 1745994 Fips_OnTheSpot
Fips_OnTheSpot's picture

Replay of "V-Bottom of the hour"

Thu, 10/06/2011 - 11:44 | 1745921 sangell
sangell's picture

By the time the EFSF is approved for the new things it will be used for it will have been used up by the things it failed to do before.

Thu, 10/06/2011 - 11:49 | 1745956 SheepDog-One
SheepDog-One's picture

The lifespan now for all this garbage is 48 hours at the longest.

Thu, 10/06/2011 - 11:45 | 1745927 Blagio
Blagio's picture

Dear God it's like watching Statler and Waldorf...

Thu, 10/06/2011 - 11:45 | 1745929 somethingelse
somethingelse's picture

another Eyes Wide Shut...Everything Looks Good Rally Day   =)

Thu, 10/06/2011 - 11:46 | 1745933 nonclaim
nonclaim's picture

They should get a room and leave us alone.

Thu, 10/06/2011 - 11:47 | 1745944 LawsofPhysics
LawsofPhysics's picture

Pass the popcorn, the talking heads are starting to explode.

Thu, 10/06/2011 - 11:50 | 1745966 SheepDog-One
SheepDog-One's picture

Repackaging the same old bullshit day after day.

Thu, 10/06/2011 - 11:52 | 1745978 SheepDog-One
SheepDog-One's picture

So now that everyone has learned a severe lesson about madcap leveraging of everything under the sun which got us into this shitstorm in the first place, and promise theyll certainly never do THAT again...their answer now is to take totaly imaginary money and leverage the shit out of it to get them out of it. Wow brilliant, this should end real well.

Thu, 10/06/2011 - 12:20 | 1746115 Fips_OnTheSpot
Fips_OnTheSpot's picture

Not to mention system-media is playing "news" that a leverage would NOT increase our payment/liablity if CALL happens.

Thu, 10/06/2011 - 12:21 | 1746126 prains
prains's picture

double doulble double double double double double triple down baby

Thu, 10/06/2011 - 11:53 | 1745982 Schmuck Raker
Schmuck Raker's picture

Confused?

You won't be, after the next episode of...

"Soap".

Thu, 10/06/2011 - 11:54 | 1745993 totem
totem's picture

And then one in bold type:

MERKEL SAYS GERMANY RETURNING TO DEUTSCHMARK

:-)

Thu, 10/06/2011 - 11:56 | 1746004 Instant Wealth
Instant Wealth's picture

The usual ON-OFF-ON-OFF strobe light trick, to puzzle Mr. Market.

"Uh .. oh .. everthing is spinning ... I better buy some stocks"

Thu, 10/06/2011 - 12:14 | 1746090 somethingelse
somethingelse's picture

lol exactly.  who knew equity markets could function as financial dramamine.

Thu, 10/06/2011 - 12:08 | 1746055 Archimedes
Archimedes's picture

Does anyone know when the next German election is? I am sick of hearing and seeing Angela Merkel!

Thu, 10/06/2011 - 12:13 | 1746080 NuYawkFrankie
NuYawkFrankie's picture

 

 

A banker-wanker named Juncker

Took Merckel out in his cluncker,

But when he made a pass

Zee fraulein passed gas,

What else d'you expect from a chunker?

Thu, 10/06/2011 - 12:19 | 1746109 Segestan
Segestan's picture

Rumor .... Greece cheated; printed euro's and now the other PIGs know the loophole. No control.Euro about to Crash!

Thu, 10/06/2011 - 12:25 | 1746150 JLee2027
JLee2027's picture

Greece is busted, Dexia is too big to absorb. French banks are exposed to both and will also blow up, taking most of Europe's other large banks and some countries with it. Then it comes here to the USA with Morgan Stanley and Bank of America the first to go. 

These guys are all thrashing around dropping impossible solutions trying to buy time  - because they have no solution.   

 

Thu, 10/06/2011 - 12:30 | 1746187 Fips_OnTheSpot
Fips_OnTheSpot's picture

CDS domino will find its way thru.

Got PM? And get RAVIOLI! Domino will happen fast and then no food avail for some days. Get teh fuck prepared.

Thu, 10/06/2011 - 13:48 | 1746538 LongSoupLine
LongSoupLine's picture

In the meantime, here comes the "3-day rally" sell-side "upgrade" flood.  Gotta keep the lie going just enough to sell off at highest bid possible.

Thu, 10/06/2011 - 16:19 | 1747244 evolutionx
evolutionx's picture

European Central Bank commits suicide

 

Michael Mross (www.mmnews.de) Interview on Russia Today:

 

Our central bank is committing suicide. On the one hand they are helping banks with billions and billions. They are buying junk bonds, billions and billions. I mean, where does this lead to? It is one of the last nails in the coffin of our central bank.

see complete interview:

http://www.mmnews.de/index.php/english-news/8633-european-central-bank-commits-suicide

Wed, 10/12/2011 - 09:50 | 1765318 karmete
karmete's picture

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