Mr Happy out with a piece in Handelsblatt now on the wires
- debt certificates could provide bridge financing
- govt-issued IOUs were again discussed at yesterday's Eurogroup meeting
- other options include reactivating the EFSM that still has €1.5bln capacity or using the €3.2bln in profits generated by the ECB in buying Greek govt bonds
- countries including France may provide bilateral loans to Greece
- Greece needs €7bln short term but may take 4 weeks to get it from ESM
Full translated article here courtesy of our friends at Livesquawk
Promissory notes/IOUs, a first step to parallel currency?
Seems that Schaeuble isn't going to lay down quietly after failing to get his way with Grexit
Meanwhile EURUSD is still treading water around 1.1000
Mr Happy in defiant mood still
