Just like Ireland. Whoever pushes these bailout packages through is either a complete moron or a bully or both. Very naive if they think a big bunch of Euro backing will attract investors to double digit return on bonds. There is no such thing as a free-lunch and people are getting more savvy to the fact that the bigger the are, the harder they fall. No one is too big to fail anymore.JR8 wrote:Greece appeals to Brussels for further financial aid
http://www.telegraph.co.uk/finance/fina ... l-aid.html
European leaders are preparing to let Greece use Brussels' emergency funding mechanism, the European Financial Stability Facility (EFSF), to roll over its maturing debts. The embattled Mediterranean nation needs to raise an estimated €22bn next year to meet repayments that are not covered by the current rescue package.
Well well.
Now it's not just bailing them out, it's providing ongoing funding for the country.
How long can this denial of reality go on!?
aster wrote:The frigging 21st century Trojan Horse.
Dump them not only out of the Euro but also the EU I say.
They're EU politicians, what do you expect. Do you recall Merkel's incredibly unwise threat re: bond-haircuts right before the initial Irish bail-out? Apparently that off the cuff comment alone caused the cost of the bail-out to rise by a couple of billion! So yes, such people have absolutely zero understanding re: the psychology of the markets etc.BillyB wrote: Just like Ireland. Whoever pushes these bailout packages through is either a complete moron or a bully or both. Very naive if they think a big bunch of Euro backing will attract investors to double digit return on bonds. There is no such thing as a free-lunch and people are getting more savvy to the fact that the bigger the are, the harder they fall. No one is too big to fail anymore.
Hence my suggestion that you have to be ahead of market expectations. Take out Greece and as you say the dominoes will still fall. Go beyond what the market expects (surprise them by taking out PIG in one go) and you have hope of saving Spain.aster wrote:Just them, though I assume this is what the banks have wanted all along... target Greece, help them forge official figures to piss off the EU, squeeze them financially, and hope that for the first time someone gets kicked out of the Eurozone. And if that happens, party time.
Of course afterwards they would do it all again by targeting another country and focusing their efforts on them, picking off the weaker ones one by one...
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