Thank you George Osborne, UK Chancellor effectively gives Europe six weeks to adopt FDR Framework based roadmap

A Telegraph article reports that UK Chancellor George Osborne has effectively committed European policy makers to adopting the roadmap based on the FDR Framework.

As many observers have noted, Europe is fast approaching the limits of what can be done with fiscal and monetary policy.

In addition, there is massive bailout fatigue as bailouts have not restored confidence.  This was completely predictable because without disclosure market participants do not know if the recipient of the bailout has been restored to solvency.

By calling on the European leaders to solve the crisis in the next six weeks, Mr. Osborne is pressuring these leaders to adopt the roadmap (disclosure, analysis, solution, implementation) as it will prevent a disorderly outcome.

Speaking at the IMF meeting on Friday, UK Chancellor George Osborne ratcheted up the pressure on European leaders to solve the crisis by calling on them to bolster the European bail-out fund and declaring they have just six weeks to find solutions. 

"Patience is running out in the international community... More needs to be done to avoid a disorderly outcome," he said, before referring to the next G20 meeting in Cannes on November 3 and 4. "The eurozone has six weeks to resolve its political crisis."