EuroTARP Would Have To Be $1.3 Trillion – $2 Trillion Bazooka Re

EuroTARP Would Have To Be $1.3 Trillion - $2 Trillion Bazooka  Re

Courtney Comstock | Sep. 23, 2011, 10:31 AM

Official estimates on how big the “EuroTARP” EFSF fund would have to be in order to stabilize banks and European markets in the event of a Greek or other default are out.

European Central Bank Governing Council member Klaas Knot said today that the EFSF should be funded with $1.3 trillion or more.

His predecessor, Nout Wellink suggested it should be $2 trillion.

The funding could come from private investors, although there’s some question about who would be interested in investing in it.

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As it stands now, the EFSF isn’t really much of anything. It doesn’t have enough money. “It’s not in existence yet,” says George Soros. Hopefully that will change soon.

See also: Europe needs another Bazooka for EuroTARP to work

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