Glad I don't own any property in Greece. That's gonna crank up the anger several notches.
If I were Germany or a citizen of any other EU country I'd say no to the Greece bailout. Help any truly needy but no multi-billion bailout. The greeks created the mess many years ago and must deal with it themselves.I have doubts Germany is going to contribute no matter what the PM says. things could get real ugly in a hurry.
And will soon fail again...If I were Germany or a citizen of any other EU country I'd say no to the Greece bailout. Help any truly needy but no multi-billion bailout. The greeks created the mess many years ago and must deal with it themselves.
I predict the EU as a whole will collapse if this bailout goes through and bad economic times also continue.
I see the UK, Germany and France abandoning the EU ship first and going back to their original currencies, dumping the Euro.
The One Europe dream has failed.
Despite the crooning from Bloomberg:
May 3 (Bloomberg) -- Euro-region ministers agreed to a 110 billion-euro ($146 billion) rescue package for Greece to prevent a default and stop the worst crisis in the currency’s 11-year history from spreading through the rest of the bloc.
The people who negotiated did not actually have authority:
BERLIN -- Germany will examine closely an agreement between Greece, the European Union and the IMF on a bailout for debt-stricken Athens before deciding whether to contribute, Economy Minister Rainer Bruederle said on Sunday.
Sorry, but there's no deal yet.
There might be one, but as of today, there isn't one.
Despite what you're being told by every pump monkey in the media.
This now has to be voted upon by both cabinets and Parliaments in several nations, Germany included.
Some will have to sell more debt to fund this - and they're already over-levered.
Oh, and this does nothing about Spain and Portugal, which are next - while the cash pile that can be assembled for these sorts of things is already being raided.
Don't put on the party hats yet folks. There are dozens of moving parts here and they ALL must lock into position where the needle points to "YES".
It helps the U.S. economy. We continue doing what we do best (innovate, produce) and fill the void left by the demise of the EU while they struggle to re-group.If the E.U. goes belly up; does that help our economy or speed its demise?
Wooohoo! All this is good news since I hate both the EU and the Euro currency. I have been smiling for weeks. The European Union should have stayed as the small-scale peace project it started as. Now it is just a money-eating colossus.