Nobody could have possibly foreseen that the Guardian was literally pulling BS out of its ass:
- GERMAN GOVERNMENT OFFICIAL SAYS THERE WAS NO DISCUSSION TO BUY BONDS OF CRISIS HIT MEMBERS AT THE G-20 MEETING - RTRS
Have fun with this lunatic, patently fake news driven shitshow that the "market" has become. We are out.
From Guardian "Madrid was forced to pay a record 5.7% on Tuesday mornign (sic) to borrow €2.4bn for just 12 months".— zerohedge (@zerohedge) June 19, 2012
Hopefully the Guardian has better "sources" of information than error and spelling-checkers— zerohedge (@zerohedge) June 19, 2012
Turns out it doesn't.
Germany says did not discuss EU bond buying plan at G20 summit
There was no discussion at a G20 summit in Mexico this week about using Europe's rescue funds to buy up the bonds of stricken members of the euro zone, a German government official said.
British media reports on Tuesday said German Chancellor Angela Merkel was poised to use Europe's dual bailout funds, known as the EFSF and ESM, to buy up the debt of countries like Italy and Spain and had discussed the plans at the summit.
"Secondary market bond purchases are one of many instruments available to the EFSF and ESM," a German government official told Reuters, speaking on condition of anonymity.
But he added: "There was no discussion here in Los Cabos about any concrete intitiatives" related to such purchases.