Monday, October 10, 2011

Euro Delay - Eurozone Crisis

BBC News: Reports that the EU has delayed a planned meeting of EU leaders to discuss the Eurozone debt crisis. The Markets will be asking are the EU trying to hide disagreements over how to deal with the Euro debt crisis. The rumoured three stage plan is as follows, a bailouts of the banks, a 2-3 trillion stability fund to be funded in part by Germany and France, and finally a managed default of Greece. It was hard enough to get the 440 billion set in place, and its still needs one final Euozone Country to say yes, what are these countries going to be like when they are asked for extra billion. Also what happens if Italy and Spanish go down the toilet, how long can the European Central Bank bailout Italy, at what point to do the Italians get annoyed with the ECB telling the Italian Parliament how to run Italy. The Stock Markets in the US and the EU have gone up folks, but it seems more on hope than fact, someone is making money, but its not main street folks.

No comments: