Today the EFSF did manage to borrow another 3bn euros. It had to pay 1.77% more than German bunds for ten year money. The trillion euro geared fund now probably has 6.5 bn euros to call on, but has to make payments to existing clients.
Meanwhile we learned that the European Central Bank has bought 9.5 billion of sovereign bonds in the last week, probably including Italian ones. Despite this Italian 10 year money rose to a new high for this century, and worried the governments about how Italy could raise the money it needs to borrow.