EIB Aiding Europe with EFSF Funds is News to EIB
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Anyone watching CNBC Monday will certainly remember the numerous claims throughout the session that "breaking news" from reporter Steve Liesman sparked a rally in stocks. Liesman, citing simply "a source," said the European investment bank (EIB) may seek to lever European Financial Stability Facility funds to purchase distressed sovereign debt.
Have a cookie, CNBC, you deserve it.
A response from the EIB Tuesday tells a different story.
EIB maintains "no bailout" stance:
There have been media reports about a potential involvement of the EIB in a special purpose vehicle in connection with the EFSF, for the purpose of bailouts.
The EIB has not been approached and has no plans to be involved in this. The EIB will continue to focus on its mission which is financing viable investment projects.
Have a cookie, CNBC, you deserve it.
A response from the EIB Tuesday tells a different story.
EIB maintains "no bailout" stance:
There have been media reports about a potential involvement of the EIB in a special purpose vehicle in connection with the EFSF, for the purpose of bailouts.
The EIB has not been approached and has no plans to be involved in this. The EIB will continue to focus on its mission which is financing viable investment projects.
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