The Economist:
Klaus Regling
Chief bail-out officer
The new head of the euro-zone SPV
Jul 1st 2010
BERLIN
IT IS registered in Luxembourg, the “offshore” domicile of many hedge funds. It has hundreds of billions of euros with which to place macroeconomic bets. And from July 1st the newly formed European Financial Stability Facility, the special-purpose vehicle (SPV) set up to support ailing euro-zone countries, is even being run by a former hedgie. But this is one fund that will never short its investments.
Klaus Regling owes his appointment as the SPV’s chief executive to his nationality as well as his expertise. The fund will be able to borrow as much as €440 billion ($537 billion) to lend to struggling countries. Its borrowing will be guaranteed by euro-zone countries, and Mr Regling’s native Germany could be on the hook for €148 billion of those guarantees...
Read more about Europe's chief bailout officer
Comment: Where is the news about the bloody noses of the euro bears? When will the bearish analysts get the pink slips they deserve? When will solid thinking return to Wall Street and the City?
No comments:
Post a Comment