Assuming there are no voting hiccups in getting the ESM to buy sovereign bonds on the secondary market…
Some arguments that bailout fund’s limited size means it will eventually hit a floor which will ultimately make bond market liquidity worse. Read more

1Alphachat: Lee Buchheit edition, featuring Lee Buchheit
2Further reading
3The risk of a Japanese VaR shock
4"This is Lake Wobegone upside-down"
5Re-setting ENRC (updated)
Show more6Bernanke weighs in on robot wars; brings Keynes for backup
7A Kazakh muddle
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