Al Jazeera has a substantial and candid interview with Klaus Regling, the EFSF chief, which is well worth watching. I came away with the sense that, although he stated early in the interview that the facility has more than enough firepower to handle potential crises from Italy and Spain, as the questioner kept probing about the possibility of downgrades from the CRA's for the major guarantors of the EFSF, his confidence in the adequacy of the facility's funding became much less reassuring (even to himself).
Also worth referencing back to this piece here from July.
Should we be more or less comfortable that the stability facility is up to the task now? See what you think after watching Mr. Regling.
2:00PM Water Cooler 6/30/2016
1 hour ago