Multi-Trillion Euro Bailout Plan Allegedly in the Works; Plan Has Failed Already

Mike Shedlock

The rumor mills are flying this Saturday regarding a Multi-trillion plan to save the eurozone. http://www.telegraph.co.uk/finance/fina ... pared.html

Telegraph: European officials are working on a grand plan to restore confidence in the single currency area that would involve a massive bank recapitalisation, giving the bail-out fund several trillion euros of firepower, and a possible Greek default.

German and French authorities have begun work on a three-pronged strategy behind the scenes amid escalating fears that the eurozone’s sovereign debt crisis is spiralling out of control.

Their aim is to build a “firebreakâ€