[whatwhaaaaat]

That is not what is happening. Listen to Ursula. She’s telling you what is happening. Eu countries are being “allowed” to go into debt without triggering eu debt procedures. It won’t be reinvestment. It will be dilution of currency though debt. Something all too familiar to Americans.

[disgruntledphd2]

Correct. Interestingly enough, it will massively increase the supply of euro bonds, and probably pull in a bunch of cash that goes to US treasuries now.

If there's enough pan European bonds (which there won't be) then the reserve currency status of the dollar could be threatened.