THE FIX IS IN: EU-IMF backstop to European Sovereign Debt Announcement to Coincide with Obama Convention
Linkedin

THE FIX IS IN: EU-IMF backstop to European Sovereign Debt Announcement to Coincide with Obama Convention

Washington : DC : USA | Sep 06, 2012 at 11:34 AM PDT
By
XX XX
Views: Pending
 

EU AGREES AFTER ARM-TWISTING TO HOLD OFF MAJOR ANNOUNCEMENT FOR BACKSTOP TO CONTROL SOVEREIGN DEBT UNTIL THE OBAMA CONVENTION.

NEWFLASH!

The New York Times reports:

May 31, 2012

PARIS — President Barack Obama is putting increasing pressure on European officials to resolve the euro crisis, talking with the leaders of Germany, France and Italy to help lay the groundwork for action before a Group of 20 summit meeting to be held in June in Mexico.

Mr. Obama discussed the recent developments in Europe in video conference calls with the European leaders on Wednesday. Mr. Obama was following up on discussions he held at the recent Group of 8 meeting at Camp David with the German chancellor, Angela Merkel, the French president, François Hollande and Mario Monti, the Italian prime minister.

“Leaders agreed to continue to consult closely as they prepare to meet at the G-20 summit in Mexico next month,” the White House said in a statement. The meeting will be held June 18-19, beginning just a day after a Greek election that is being seen as a de facto referendum on that country’s euro membership.

At that meeting the mechanism for an EU action to backstop the European Union membership from economic collapse took place with an agreement between the Euros central banks. The backstop announcement was to take place in the middle of July, but the Americans had armtwisted the Euro bankers to hold off on the announcement. From that time the world's financial and stock markets have chopped around a small range awaiting an announcement from the EU.

Today's announcement, after American insistence on delays until the administration though it is the right time, took place.

The RIGHT TIME is the day the president accepts the Democratic National Committee's nomination for 2012.

In short, the entire world and its financial markets were kept at risk to assure the re-election on one Barack Obama.

1 of 1
g8
G8 2012 - EU BACKSTOP ACTION RECOMMENDED
agb100 is based in New York City, New York, United States of America, and is a Reporter on Allvoices.
Report Credibility
 
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear
 
 
 
Advertisement
 

News Stories

 
  • Relief in Italy at ECB plan, Monti says reforms must continue

      Reuters
    News Analysis & Opinion Related Topics German Chancellor Angela Merkel (R) and Italy's Prime Minister Mario Monti attend a news conference after talks at the Chancellery in Berlin, August 29, 2012. Italian business leaders expressed palpable relief...
  • Obama Makes Passionate Appeal at Democratic Convention [PHOTOS]

      International Business Times
    Reuters Accepting his official nomination for a second term, President Barack Obama made a passionate appeal to US citizens to re-elect him in the November elections - saying he has unfinished business in the White House. Obama said it needs more...
  • EU leaders praise ECB bond-buying, but German bank seethes

      Channel NewsAsia
    European leaders broadly welcomed a new plan from the European Central Bank on Thursday to help eurozone members hit by crippling borrowing costs, but it drew scathing criticism from Germany's Bundesbank. At one of the most highly anticipated...
  • ECB unveils new bond-buying scheme

      Germany News in Englsh
    The European Central Bank unveiled a new bid to save the euro on Thursday, with a fresh programme to buy bonds from indebted eurozone countries. German Chancellor Angela Merkel travelled to Spain to reassure Prime Minister Rajoy. Echoing remarks...
  • Merkel calls for Greek solution

      The New Zealand Herald
    Merkel is said to have spoken the words before the most recent audit mission by the debt-burdened country's so-called troika of bailout lenders: the European Union, the International Monetary Fund and the European Central Bank. Der Spiegel added that...
  • ECB loads the ‘big bazooka,' agrees to buy government bonds, if needed

      Washington Post
    The broad aims of the new bond-buying program were couched carefully in the language of the bank's legal mandate to control inflation and not directly finance the region's governments. But the aim was clear: After nearly three years of a crisis in...

Images

 >
 
  • 	G8 2012 - EU BACKSTOP ACTION RECOMMENDED

    g8

More From Allvoices

Related People

Report Your News Got a similar story?
Add it to the network!

Or add related content to this report



Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.