Submitted by Tyler Durden on 07/29/2012 15:31 -0400
The insolvent banana continent is back. Recall back in May 2011:
“When it becomes serious, you have to lie." -Jean Claude Juncker
Ergo, things in Europe are very serious again because the Eurogroup's head, who until recently promised he was quitting his post because "he had gotten tired of the Franco-German interference in managing the region's debt crisis", only to spoil the fun and say he was lying about that too, is back to doing what he does best - lying. To wit: "the euro countries are preparing together with the bailout fund EFSF and the European Central Bank to buy government bonds if necessary clip euro countries." And now cue Schauble: "Federal Finance Minister Wolfgang Schaeuble has rejected speculation about impending purchases of government bonds by Spanish EFSF and ECB."
From Suddeutsche Zeitung: