EU Banks and the Eurozone Crisis

BBC News: Reports that the Bank of England and the US Federal Reserve have opened loans to banks, this has been followed by other Central Banks, the lack of money in the system is the fear of sovereign debt and how much the banks are holding. This was quick and swift action by the Central Banks, but it’s a short term measure folks, the debt of Greece is still out there, its going to default, it’s a matter of time, the European Central Bank is holding Italy and Spain up, at what point do the Central Banks start to have problem, they are not limitless, they can print money yes, but it can be worthless if they are not careful, aka Weimar Germany. The Greeks have promised to carry through their austerity package, this would blog would trust them more if they built a Trojan Horse. They know how do to that! The pain that Greece and Italy would have to go through to see the light is to much for the public, again the banks are getting a bailout and the common man is getting shafted, the banks should be allowed to fail and the main street should be helped, but the elites look after each other.