ANCORA LA GRECIA...CHE PALLE..SI STA TANTO BENE IN SVIZZERA..ANCHE I GRECI LO SANNO
What should also start to worry the Germans is the fact a 37x levered hedge-fund central bank with EUR3 trillion balance sheet that has extended credit in a 'risk-managed' approach on what appears to be an ever dwindling supply of performing collateral is starting to see dramatic 'gaps' in its asset-liability exposure (but rest assured Bernanke told us that our FX Swaps are safe as houses).
One last point should be noted - the hopes of an LTRO3 or some such are surely now out of the window as clearly banks have run dry of any and all reasonable collateral or can the sovereign bonds purchased using LTRO1 and LTRO2 funds be lodged once again in a rehypothecated miasma circling the drain?
ANCORA LA GRECIA...CHE PALLE..SI STA TANTO BENE IN SVIZZERA..ANCHE I GRECI LO SANNO
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