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Most often decisions are agreed in advance. Maybe they stayed up all night partying.
A requirement that taxpayers get preferred creditor status on aid to Spain's insolvent banks was dropped. European stocks and bonds surged. So did the euro. Expect euphoria to be short-lived. It happened each time before.
Talk of a major breakthrough was morning headline hype. Independent analysts forecast hard times getting harder. So-called rescue funds provide a fraction of what's needed.
At issue are two rescue schemes - the European Financial Stability Facility (EFSF) and European Stability Mechanism (ESM).
Combined they have about 500 euros. EFSF exhausted most of its resources. It needs infusion help to replenish it.
The late Bob Chapman said around $6 trillion is needed for troubled Eurozone countries. What's proposed is a drop in the bucket. Moreover, the longer real solutions are avoided, the worse crisis conditions get, and greater eventual trouble.
Chapman said things festered so long unresolved that an eventual train wreck is virtually certain. He estimated a timeframe from 2012 - 2017.
ESM was originally scheduled to take effect July 1. Germany's parliament was still debating it. Chancellor Angela Merkel rushed back from Brussels to smooth passage.
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