Saturday 30, June 2012 by Gerhard Schubert
Precious Metals Report: German vote for the Euro
The Eurozone countries have agreed on an EUR 120 Billion growth package. The European Financial Stability Facility (EFSF), and later on, the European Stability Mechanism (ESM) will be able to lend directly to Eurozone Banks, and will also be able to buy Eurozone Government bonds directly. This means that Sovereign debt is no longer increasing in the peripheral states, at least not through the necessary bank recapitalisation process.
