主题：【原创】闲话92： 城门失火殃及谁 -- 井底望天

weakness.

Euroland's problem needs the final solution just like the American crisis: use taxpayers' money to fill in the Greek hole.

But no Europeans want this solution (except the Greeks).

During the American crisis, three key players fixed the mess: Hank, Tim and Ben. One from Treasury as the mastermind of various solutions, the second from NY Fed to deal with Wall Street and coordinate with other regulators. Ben provides ammunition and various technical solutions. Three great men with resolution and same vision.

Another big plus: Hank locked in China's support and Chinese financial elites did not desert dollar in the crisis period 2007-2008.

On the other side the Atlantic ocean, Greeks 死猪不怕开水烫, are crying babies. They want fiscal free money, while loan "reprofiling" or renewal can not solve their fundamental problems at all.

The two cores, Germans and Frenchmen, can not agree with each other. Frenchmen have grand plans, but short on money. Germans have money, but do not want to be a stupid free money distributor any more. ECB adamantly refused the idea of restructuring since it holds billions of Greek debts and a haircut will eliminate its capital.

European Commission can not agree on anything. European President is a joke with no authority. Europeans still could not establish a EU-level Treasury.

Who knows what will happen if other central bank give up Euro and give the last coup d'grace...

....

Gov. bond is the foundation of modern finance: widely used as collateral in bank transactions, as well as the starting point for various interest rates.

EU will be in firefighting mode for a while WITHOUT A systematic solution. This weekend is gonna be funny.

I do believe that EU still has ammunition to force through a temporary solution, just as Americans did during the Bear Stearns weekend.

But the final Lehman Brother II weekend will come and haunt Euroland for sure.