Bankers offer a plan B to deal with the crisis

Bankers from Deutsche Bank have developed special measures to combat the debt crisis in Europe, which they called "Plan B". As noted by Bloomberg, the basic idea of ??the plan lies in the fact that the European Central Bank began to perceive the commercial financial institutions as allies. In particular, Deutsche Bank offers to set privileges on collateral for commercial banks, if they buy bonds of countries most affected by the debt crisis, such as Spain, Italy, Portugal or Ireland. According to the German bank, this will create demand for high-risk bonds. Thus, the financiers plan to unload the European Central Bank, who is forced to buy the paper to ensure that they demand. According to ECB President Jean-Claude Trichet, just last week, Europe's financial regulator was forced to buy bonds to two billion euros. And since May, the ECB has acquired the securities of 69 billion. Bloomberg notes that Deutsche Bank, for its part, by the end of March 2010 has invested in bonds Portugal, Ireland, Italy, Greece and Spain for more than 10 billion euros. Debt crisis erupted in Europe in early 2010, when Greece was the brink of default. For the salvation of Greece, the EU and the International Monetary Fund organized a special stabilization fund (European Financial Stability Facility, EFSF). At the end of the year means EFSF benefited Ireland. The market had feared that difficulties with debt servicing may also occur in Spain and Portugal, but both countries said they did not intend to seek help from the IMF. Source: lenta.ru