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Their mortgage books are too large to save without nationalisation, regardless of RBA backstops and bailout mechanisms already in place – namely the so-called committed liquidity facility.
It should have enough cash to do so: Europe's various bailout mechanisms have access to 500 billion euros.
Over conservative resistance, Mr. Bush backed the bailout mechanisms for Wall Street and the auto industry that Mr. Obama later would put into effect.
He added that the European bailout mechanisms were inadequate, likening them to attaching a first-aid bandage "to a festering wound".
Germany blocked discussion of specific bailout mechanisms, forcing the leaders of the 27 countries in the European Union to turn their attention instead to prodding Greece to get its finances under control, promising stringent monitoring of Greece's tough austerity program.
There were no bailout mechanisms – the Federal Reserve was not invented until 1913 and the federal government did not have the resources to save the financial system, even if it wanted to.
Similar(51)
The statute has [a] bailout mechanism.
A precautionary credit line could have been sought from the European bailout mechanism.
The massive bailout mechanism agreed Sunday night by EU finance ministers is a desperate step.
Expect an announcement of the perameters of a bailout mechanism before a meeting of EU finance ministers next Thursday.
Tories are also concerned by the decision of EU leaders to agree to a modest treaty change to underpin a bailout mechanism for troubled members of the eurozone.
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