Eurogeddon postponed again as ECB gains three weeks

``The ECB is acting as a temporary back-stop until the revamped EFSF bail-out fund is ratified by all parliaments over coming months. The EFSF will then take the baton. Yet as we all know, the EFSF has no money. The parliaments have not even ratified the earlier boost to €440bn. As of today, the fund has barely €80bn left after all the commitments to Greece, Ireland, and Portugal. It remains a fiction. As for boosting it further to €2 trillion or more -- as suggested by Citigroup, RBS, and the European Parliament -- we face a little local difficulty across the Rhine. ''