big bazooka

[David Barnhart]

Germany countered the positive mood as the country's finance ministry said
there would be no need to give the ESM a banking licence. That would block
it from buying debt issued by troubled eurozone members. "This is a blow to
those expecting the ECB to deliver some sort of big bazooka at this week's
meeting," said Kathleen Brooks, research director at Forex.com. Angela
Monaghan, "Hollande joins chorus of leaders pledging to save eurozone, The
Daily Telegraph [London] (Nexis), Aug. 1, 2012, p 21

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