This is the first I have heard of discussions to use Gold to support the failing European economies. If it is true, it could herald the larger discussion that those without gold have NO DEFENCE when it comes to currency collapse:

Starting at 4th para (under the currency cross-table):

http://news.goldseek.com/GoldSeek/1314968400.php

A gold-backed euro bond for PIIGS in need...

One step closer to admitting that GOLD is the true international reserve currency.

SKELLIG