QE To Infinity Certain With European Stabilization Mechanism Treaty
The new treaty to create a European Stability Mechanism (ESM) was signed on 2 February by the eurozone countries' ambassadors in Brussels. Herman Van Rompuy, President of the European Council, welcomed the signing of the treaty, saying that this permanent crisis mechanism would contribute to raising confidence and ensuring solidarity and financial stability in the euro area.
The ESM will be a Luxembourg-based international financial institution, which will support euro area countries where indispensable to safeguard financial stability. It is scheduled to become operational in July 2012.
The treaty was originally signed in July 2011 but has now been modified to make the ESM more effective.
This is one of the final pieces to the puzzle and shows you how bad things really are:
http://www.youtube.com/watch?v=EPcWHBPY ... r_embedded
This goes into more details: http://en.wikipedia.org/wiki/European_S ... _Mechanism
Also here is a file on the document itself:
http://www.european-council.europa.eu/m ... 2.en12.pdf