BREAKING: Eurozone agrees on bank recapitalisation

its like embalming and slapping makeup on a rotting corpse

Recapitalisation?! With what capital, exactly? They're just stalling for time, having finally realized the EU is done.

Stick a fork in it.

I am sure U.S. dollars are leaving the printing presses of the FED. and going in the back door of the EUSF.

Just in time to jack up stock prices for month-end/quarter-end...

Stock prices factor into GDP #s.

More kicking the can down the road.

Watch for a reversal next week, though I wouldn't put money on it...

I love it, they are going to recapitalize Banks with money they get from where?

The only solutions are

A: Issue a Euro Bond and Refinance the debt of the Member States.

B: Break-up The Euro Zone and every Nation for themselves.

C: Devalue the Euro by Printing.

Looks like to me they are taking option C:.

They won't be happy till the Euro reaches Dollar parody, that's going to be hard to do if we keep devaluing the Dollar.

Maybe that's why we didn't see QE3, so they could offer us a United Currency down the road a few years.

The new agreement made clear that the EU's existing bailout fund - the EFSF - will provide aid under the current rules until the new fund, the European Stability Mechanism (ESM), begins operations. The ESM is due to be launched next month.

Looks like their just using the last of the existing EFSF funds and the new ESM.

Not sure where the ESM funds are come from?

They still seem a long way from a Euro Bond.

In another significant move, the leaders backed a eurozone roadmap heading towards fiscal union.

The 10-year plan, presented by Mr Van Rompuy, envisages the creation of a European treasury, which would have powers over national budgets.

Mrs Merkel has warned there is no "magic formula" to solve the crisis. She argues that fiscal responsibility and tighter regulation must come first, before any pooling of eurozone debt.

But Mr Hollande and several other EU leaders want individual countries' debts guaranteed by the whole eurozone, as centrally issued eurobonds.

Sadly the Euro Bond is the only long term solution to this problem, they are just sucking up unneeded interests on nations that can't afford them.

As we seen in the past, these type of financial misdealings can lead to wars on mainland Europe.

all bullshit. the eurozone is dead and gone