Cline Mining Corporation T.CMK

trillion plan

[elefentman]

Multi-trillion plan to save the eurozone being prepared



Europeanofficials are working on a grand plan to restore confidence in thesingle currency area that would involve a massive bank recapitalisation,giving the bail-out fund several trillion euros of firepower, and apossible Greek default.

The grand plan could give the bail-out fund access to several trillion euros of firepower.



By Philip Aldrick, and Jeremy Warner in Washington
4:51PM BST 24 Sep 2011



Germanand French authorities have begun work on a three-pronged strategybehind the scenes amid escalating fears that the eurozone’s sovereigndebt crisis is spiralling out of control.
Theiraim is to build a “firebreak” around Greece, Portugal and Ireland toprevent the crisis spreading to Italy and Spain, countries considered“too big to bail”.
Accordingto sources, progress has been made at the G20 meeting in Washington,where global leaders piled pressure on the eurozone to fix its problemsbefore plunging the world back into recession. In a G20 communiqueissued on Friday, the world’s leading economies set themselves asix-week deadline to resolve the crisis – to unveil a solution by theG20 summit in Cannes on November 4.
Sources said the plan would have to be released as a whole, as the elements would not work in isolation.
First,Europe’s banks would have to be recapitalised with many tens ofbillions of euros to reassure markets that a Greek or Portuguese defaultwould not precipitate a systemic financial crisis. The recapitalisationplan would go much further than the €2.5bn (£2.2bn) required byregulators following the European bank stress tests in July andcrucially would include the under-pressure French lenders.

[miner8740]

its a little to late, market in beaR== DECLINEDmost blue chip stocks and industrials may shrink another 30 to 40 % including coal stocksmoney on the sidelines is the safe haven right nowas far as CMK , if management can indicate that they are meeting their targets, it may prevent only a 50 % downward pressure on sprisk is high for a small reward in this market for all coal players

[Rudee.]

Exactly. Don't be in a rush to by any stocks now no matter how great the prices look, because there is still a very good chance things will get even worse over the next few months. And don't forget, even if the Greece situation gets sorted out, there is still Italy and the UK next in line with threats of defaulting. Chances of CMK going below a $1 over the next few weeks are pretty high.

[miner8740]

S and P are now considering downgrading European Countries such as France and Germany should they consider bailing out with additional funding to prevent such countries from defaultingit is a no win situation

[smithski]

Wow... what a year makes...