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EU in 720B EUR bailout
Topic Started: May 10 2010, 01:30 AM (233 Views)
jon-nyc
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Cheers
Now *that's* a bailout.


http://www.ft.com/cms/s/0/f23ee996-5c02-11df-95f9-00144feab49a.html?nclick_check=1

In my defense, I was left unsupervised.
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Klaus
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HOLY CARP!!!
And there goes the independence of the ECB. Now it has become a political instrument like the FED.
Trifonov Fleisher Klaus Sokolov Zimmerman
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Kincaid
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HOLY CARP!!!
Short term, I like the effect it had on the markets (and my 401K).

Long term, I have no clue what's in store.
Kincaid - disgusted Republican Partisan since 2006.
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1hp
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Fulla-Carp

Why propping up a currency, and a country, should have any effect on a stock market is beyond me. Must be some kind of group experience for financial types.

Does this really do anything other than make a few people happy for a short while? From AP article:

Trillion dollar Euro rescue won't solve low growth



Analysts warned, however, that the emergency bailout fund would do nothing to reverse Europe's soaring public debt -- and could even worsen it.

"The last thing you give a drunk is another drink," said Jeremy Batstone-Carr of Charles Stanley stockbrokers. "The process of providing a bridging facility for Greece and possibly other indebted nations will add significantly to regional debt and deficit ratios without actually solving the underlying problem."

The core problem is low -- or near zero -- economic growth, high unemployment and governments unwilling to take painful steps to hike competition or get people to work more and longer.


There are 10 kinds of people in this world, those that understand binary and................
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1hp
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Fulla-Carp

Now they're considering suing US investment banks. WTF?

Greek leader considers action against US banks

I suppose Papandreou will blame this on Bush too. Politicians! :veryangry:

Edited by 1hp, May 16 2010, 03:10 PM.
There are 10 kinds of people in this world, those that understand binary and................
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Axtremus
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HOLY CARP!!!
"US investment banks" designed and implemented the financial instruments that the Greek used to hang themselves.
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