2nd Greek Bailout and the EU = DEFAULT

BBC News: Reports that the Greece will get a second bailout of 96.3 billion pounds, that Greece will be given more years to pay it back, nearly 40 years and that private investors could give Greece another 50+ billion euros. Folks this is a Greek DEFAULT, its simple, Greece can not pay its debts, those that have invested in Greece will get a reduced rate if ever back, private investors are expected in fact to write off Greek debt. The EU has changed rules mid flow, is that even legal, could this be challenged in the Courts. Also the deal from first reading does nothing about the debt of Italy and Spain, it’s a temporary bandage folks, we will be back in here in a few months, it will either be Greece again, or Ireland or Portugal. The EU has failed and it just might have destroyed the Euro in the process.