Schadenfreude | 136 comments (131 topical, 5 editorial, 0 hidden)

Re: Schadenfreude (4.00 / 9)

The German banks already enjoyed a €480bn bailout package, by the way.

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Tue May 4th, 2010 at 08:28:23 AM EST
[ Parent ]

Re: Schadenfreude (none / 1)

Might it be that even with the €480bn bailout, allowing Greece to default would still take down some of these banks?

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue May 4th, 2010 at 10:18:54 PM EST
[ Parent ]

Re: Schadenfreude (4.00 / 2)

It appears that Soffin is still dishing out billions...

HRE: SoFFin beschließt Rekapitalisierung von 1,85 Mrd EUR (Hypo Real State: Soffin decides €1.85bn recapitalisation)

According to wikipedia Soffin has issued guarantees for €70bn and recapitalised banks for €28bn out of an authorised €400bn and €80bn respectively.

Back in February rumour had it that Germany's plan was to use Soffin as a vehicle to help Greece. As I can only source this through La Rouche (quo claims this was in Spiegel Online) I'm not linking to it... That plan must have been sabotaged because back in February Merkel was still favourable to helping Greece.

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Wed May 5th, 2010 at 02:31:40 AM EST
[ Parent ]

Schadenfreude | 136 comments (131 topical, 5 editorial, 0 hidden)

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