"project bonds, with the eurozone providing credit to private companies for infrastructure projects and job creation"
So the beneficiaries of the financial crisis are going to be the very "investors" that brought it about?
And I thought private business was in the business of creating jobs? Silly me.
"European leaders pushed toward banking union" June 25, 2012
FRANKFURT — The ideal outcome from the meeting in Brussels on Thursday and Friday, as a rising chorus of central bankers and foreign leaders has made clear, is deliberate movement toward a eurozone in which countries would backstop one another’s banks and bonds, while policing one another’s spending....
Wolfgang Schauble, the German finance minister who is known as an advocate of a stronger European central government, said in an interview published Sunday that Germany may need to hold a referendum on a new constitution within several years, to make it easier for the country to cede budgetary authority.
Yes, the fascists did conquer Europe; however, they did it wearing banker suits.
A meeting of leaders of the four largest countries in Rome on Friday suggested what might be expected from the full meeting this week. The leaders of Germany, France, Italy, and Spain agreed to a $163 billion growth pact, which mostly redirects existing funds. It would also create so-called project bonds, with the eurozone providing credit to private companies for infrastructure projects and job creation.
While helpful, the plan, expected to be formalized at the summit, does not address the underlying weaknesses of the eurozone.
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Related: Global markets cheer as Europe’s leaders back rescue plans
I gue$$ they got what they wanted 'cuz Globe don't tell me.
