Who came up with this acronym?
Perhaps that's what Cameron meant by 'greater fiscal integration'. Still, we can always print money and send that to the IMF.
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
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
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.
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