Wonder what that does to the remaining contributing nations balance sheets?
Not good, and increases the likelihood of Italy getting seriously tested.
By Karin Matussek
July 10 (Bloomberg) — The European Central Bank is seeking to have the euro-rescue fund expanded to include help for Italy, Die Welt reported, citing unidentified “high ranking” people at central banks.
The fund may have to be doubled to 1.5 trillion euros($2.14 trillion) to cover a crisis in Italy, the ECB said according to the German newspaper.
Central banks are no longer ready to buy government debt, so the rescue fund should take on that task instead, according to the bankers, Die Welt said preview of an article for tomorrow’s edition.