http://www.telegraph.co.uk/finance/economics/8043800/Banks-4-trillion-debts-are-Achilles-heel-of-the-economic-recovery-warns-IMF.html
rolled over means refinanced with the due interst being added to make the principal just that much larger, so that "WE" the "PEOPLE" of the world
will have to continue to pay that debt at a higher cost.
Naturally the "Banks" will be rewarded handsomely for all the fees that they will garner from having to bail them out again.
The financial system is broken. It's now time to go tell them to f@ck themselves. They created this mess and it not "OUR" problem to pay for it.
We've already done that in spades and the proof is in the pudding, it does not work.
We are only burying "OUR" own countries in that much more debt by catering to the "banks" needs
Lenders across Europe and the US are facing a $4 trillion refinancing hurdle in the coming 24 months and many still need to recapitalise, the Washington-based organisation said in its Global Financial Stability Report. Governments will have to inject fresh equity into banks – particularly in Spain, Germany and the US – as well as prop up their funding structures by extending emergency support.
“Progress toward global financial stability has experienced a setback since April ... [due to] the recent turmoil in sovereign debt markets,” the IMF said. “The global financial system is still in a period of significant uncertainty and remains the Achilles’ heel of the economic recovery.”
Although banks have recognised all but $550bn of the $2.2 trillion of bad debts the IMF estimates needed to be written off between 2007 and 2010, they are still facing a looming funding shock that will need state support. “Nearly $4 trillion of bank debt will need to be rolled over in the next 24 months,” the report
