The Debts of the Spenders: EU Agrees To Print Almost $1 Trillion and Buy Government Bonds

"Death to speculators!" was the rallying cry heard round the weekend as European leaders struggled to contain the Euro from crashing. One wonders where exactly they will get the money to do so. The answer of course, is the printing press, or more accurately off balance sheet transfers to ensure a smooth flow of liquidity (e.g. credit moving around the world). Nearly all of these transfers will be done at the institutional level and between psuedo government agencies such as the IMF and World Bank. This measure is critical as it prevents runaway inflation from entering the wider economy. . . .at least temporarily.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aeHrwqUq9G9A&pos=1