Green Light for NEXT Greek Bailout

Telegraph Live - Euro: Reports that the EU has agreed the next part of the Greek Bailout, thus the Greeks will get the expected eight billion Euros once the IMF also says yes. The EU had no choice folks, the Greeks in many respects have a gun at the head of the EU and the Euro, the EU wants to build a firewall around EU banks before a Greek default, thus they have to keep Greece from defaulting. Yesterday even in the face of a death on the streets of Athens the Greek Parliament passed the latest austerity package of the Greek Government. Thus the importance of the three stage agreement that has been rumoured for weeks, a bailout of the banks, a stability fund and a managed default of Greece. The basic problem is that the French Government don’t want the private banks to take a 50% to 60% write off of Greek debt, the French have stated that they have the funds to bailout French banks, BS folks, one can postulate that the French Government does not want to cap in hand to the EU for money, it would mean defeat for the President in the 2012 election. Thus economic reality vs. political reality, what will give folks.