• Governments must provide adequate leverage to EFSF
  • Govts must be ready to recapitalize banks
  • Nanks should recapitalize in markets, if they can
  • Should not grant EFSF a banking license
  • Euro as a currency not in crisis
  • ECB keeps position of no credit event
  • Fears bond buying fuels inflation is unfounded
  • Financial stability of euro area at stake