Europe aid package boosts bonds, not euro

[Joanne98]

Early results show ECB bond buying making an impact; euro languishes

LONDON (MarketWatch) -- Five days is a short time to judge a nearly $1 trillion aid package, but so far efforts by the European Union to put a halt to a financial market crisis have indeed stopped a precipitous drop in government bond prices -- but done little to shore up the value of the euro.

"I suppose if you want to be really simplistic about it, the European Central Bank is buying peripheral bonds and it's not buying the euro," said Rob Carnell, chief international economist for ING in London.

"The euro is more a reflection of the overseas investor view of the whole package, and it seems to be registering a healthy degree of skepticism."

http://www.marketwatch.com/story/europe-aid-package-boosts-bonds-not-euro-2010-05-14?siteid=rss&rss=1

[Turbineguy]

1. The bailout is for banks and bondholders.

Not for ordinary people.