MBS MID-DAY: 12/9/2011

This is a great compilation with a ton of quotes from key players in the political and economic scene in Europe put together by Reuters. Here are a few highlights with MUCH more behind the link:

GERMAN CHANCELLOR ANGELA MERKEL

“In the beginning of March, the treaties will be presented and can be ratified immediately. It will change the character of the ESM (permanent bailout fund) and with that we have a nucleus of a stability union…”

ON ROLE OF IMF:

“On top of that, there will be a top up of resources at the IMF… If euro zone members or other EU members place bilateral credit lines with the IMF, it will be possible to lobby for support outside of Europe and increase the firepower of the IMF with regards to European help. That is important and good.”

“We increased the bilateral loans to the IMF in 2009 at the London meeting of the G20 and it will happen again in a similar way here.”

EUROPEAN COUNCIL PRESIDENT HERMAN VAN ROMPUY ON EURO ZONE TREATY:

“It is unfortunate that we missed that chance to have a full-fledged treaty change.”

“This treaty will be open to non-euro zone countries. Except for one, all are considering participation.”

EUROPEAN COMMISSION PRESIDENT JOSE MANUEL BARROSO ON DEAL AMONG EURO ZONE RATHER THAN EU 27:

“Very openly, we would have preferred an agreement to take a community treaty that could bind all the 27 member states, even if what we are looking for was the reinforcement of the euro area governance and some conditions specifically for the euro area.

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/239083.aspx

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