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To: carranza2 who wrote (91073)	6/5/2012 12:37:35 AM
From: carranza2	Respond to of 219951

Plus, something I missed earlier: the ECB has shifted funds - billions - to the emergency side of its ledger. cnbc.com The Force is curling my toes, shaking the fillings out of my teeth.

To: carranza2 who wrote (91073)	6/5/2012 8:01:41 AM
From: elmatador	Respond to of 219951

Twenty Three years ago writing about the G7 I concluded it had become no more than a cartel of currencies. Every member was -then- acting by himself and the G7 was losing its clue. You are correct. They will not pull out of a hat a Plaza or Louvre Accord and things just sort out by the result of these accords. G7 is irrelevant for the issues to be tackled today.

To: carranza2 who wrote (91073)	6/5/2012 8:23:36 AM
From: elmatador	Respond to of 219951

It is "G7 policymakers and some members* of the wider G20* will hold an emergency teleconference on the euro zone debt crisis on Tuesday in a sign of heightened global alarm about the threat posed by strains inside the 17-nation monetary union. The call comes two weeks before a G20 summit this month in Mexico." The G7 have been afraid of having to seat as equals with the new big boys on the block. It is their right to do so but the pain has only got more severe and they will have to accept it under duress. The longer it the more painful it would be. A pain that could have been avoided. For instance Germany must spend to A G20 official in Asia said the grouping, which also includes Brazil and India, could look to put pressure on Germany to switch to stimulus mode, as part of a wider call for strong, developed economies to step up spending. Europe does not accept foreigners to come and tell them how to solve the crisis the same way that China governing elites do not accept US telling them what to do with their currency.