SPIVs

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wobbegong replied

26 October 2011, 10:42
Originally posted by TimberWolf View Post

Which by coincidence is what the southern states wanted from the beginning. Why write your own cheques when you can suck on the German teat.

Bzzzzzztt! Repetition!
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TimberWolf replied

26 October 2011, 09:37
10.15 What does the market really want from today's eurozone summit? According to John Kay in the Financial Times:

The decisive action they seek is not really a European solution at all. It is that the German government should write very large cheques - or underwrite very large borrowings.
Debt crisis: live - Telegraph

Which by coincidence is what the southern states wanted from the beginning. Why write your own cheques when you can suck on the German teat.
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Churchill replied

26 October 2011, 09:17
Originally posted by wobbegong View Post

Which might be better than the 'dishonest' and 'illegal' connotations associated with the term SPIV.

Nothing wrong with calling a spade a digging implement...
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wobbegong replied

26 October 2011, 09:14
Originally posted by Churchill View Post

But then it would give meaning to "Leaking like a S(e)iv(e)"...

Which might be better than the 'dishonest' and 'illegal' connotations associated with the term SPIV.
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Churchill replied

26 October 2011, 08:39
Originally posted by wobbegong View Post

A "special investment vehicle" would be a 'SIV' not a 'SPIV', shirley?

But then it would give meaning to "Leaking like a S(e)iv(e)"...
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wobbegong replied

26 October 2011, 08:34
A "special investment vehicle" would be a 'SIV' not a 'SPIV', shirley?
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TimberWolf started a topic SPIVs

26 October 2011, 08:09
SPIVs

Who came up with this acronym?

08.40 The International Monetary Fund is considering taking part in the bail-out fund via a special investment vehicle (SPIV), Reuters reported.

To increase the firepower of the €440bn EFSF without actually putting more money into it, the SPIV (try not to laugh at the name) will be able to issue debt and use the money raised to buy the bonds of indebted nations in the secondary markets, or make loans to governments.

The SPIV would be able to raise money from private investors and sovereign wealth funds, and the IMF could also contribute.
Debt crisis: live - Telegraph

spiv

A flashy, slick operator who makes a living more from speculation or profiteering than from actual work. The kind of guy who wears a shiny medallion, goes bankrupt from a dodgy swampland development scheme, but still has a big house in his wife's name.
Urban Dictionary: spiv

Of course, when the IMF is involved, it means British taxpayers are on the hook because of the country's contribution to the fund.

Perhaps that's what Cameron meant by 'greater fiscal integration'. Still, we can always print money and send that to the IMF.
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