Been here before.

  • Loans to IMF can’t finance public debt
  • Loans must go to general funds
  • Loans can’t be for pre-designated cause
  • Expects consensus on IMF burden sharing
  • Loan shouldn’t be limited to euro zone
  • Preventative intervention via bond buys unproductive
  • December summit plans step in right direction
  • Monetary policy remains expansive
  • ECB not pre-committed to rate decisions
  • German econmic rebound depends on crisis resolution
  • Losing triple A rating is not the end of the world
  • Doesn’t think aid programme needed for Italy
  • Liquidity support must avoid creating independence
  • “Absolutely senseless” to mull return to Deutsche Mark

EUR/USD sits at 1.3025, effectively unchanged from when I first sat down

:(