Very relaxed, probably in a bathroom (john, lavatory, washroom) sitting on a stool, from Deutsche-Boerse: https://mninews.deutsche-boerse.com/content/germany-econ-min-govt-very-relaxed-about-downgrade-efsf
BERLIN (MNI) - The German government is "very relaxed" about the downgrade of the European Financial Stability Facility (EFSF) rescue fund, Economics Minister Philipp Roesler said Tuesday.
The success of today's auction of six-month bills by the EFSF shows that the markets have confidence in the structure of the rescue fund, the minister argued.
Standard and Poor's on Monday lowered the long-term rating of the EFSF to AA+ from AAA.
EFSF CEO Klaus Regling said on Monday that the downgrade would not reduce the fund's lending capacity of E440 billion. The EFSF "has sufficient means to fulfill its commitments under current and potential future adjustment programmes" until the permanent European Stability Mechanism (ESM) rescue fund becomes operational in July 2012, he said.
The EFSF on Tuesday sold E1.501 billion in six-month bills, matching its target with a bid-cover ratio of 3.1. The highest accepted yield came to 0.27%, while the weighted average yield came to 0.2664%. All of the bids at 0.27% were accepted. The average accepted weighted price at the auction was 99.8655.