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 Post subject: IMF Creates New European Bail Out Facility
PostPosted: Tue Nov 22, 2011 8:05 pm 
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Uncle Sam To The Rescue: IMF Creates New European Bail Out Facility, The "Precautionary And Flexible Credit Lines" -> http://www.zerohedge.com/news/uncle-sam ... t-facility

Quote:
And here comes Uncle Sam:
  • IMF APPROVES CREDIT LINE PROGRAM CHANGES TO PROVIDE LIQUIDITY
  • IMF CREDIT LINE CREATES NEW SOURCE OF FUNDS FOR MEMBER NATIONS
  • IMF ADDS EMERGENCY FUNDING TOOL TO ASSIST COUNTRIES IN CRISIS
  • IMF NEW CREDIT LINE AVAILABLE FOR SIX MONTHS TO TWO YEARS
  • IMF CREATES PRECAUTIONARY AND LIQUIDITY LINE
  • IMF SAYS ACCESS UNDER 6-MONTH LIQUIDITY LINE COULD BE UP TO 500% OF MEMBERS QUOTA

And here is the math: Italy's quota is 7,882.3SDR; Spain is 4,023.4 SDR. Multiply by 5 and you get 40 Billion and 20 billion SDRs respectively, which translates to $61 billion and $31 billion. A total of $91 billion in additional capacity? And that's it: enough to fund Italy and Spain for... two months. This is the best the regime can come up with?

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