Guardian: Reports on the comments of Robert Chote of the Office of Budget Responsibility, Mr Chotes has warned that a Greek exit from the Euro " .. threatens to plunge Britain into a second recession equal in ferocity to the record postwar slump of 2008-09.. ".
Lets Get Real:
It has been stated by G8 sources that no solution can be expected from the G8 meeting or further EU meetings, it seems Eurozone leaders are waiting for Greece to make up its mind, the EU and the Euro does not have a month to wait, as we have seen over the past 48 hours Spanish Banks have started to come under threat, also it has been noted by Spanish economic experts that the Spanish Government does not have the money to bailout the entire Spanish banking system should that become an issue. The new Spanish PM has made it clear that while the Market might have 7% as the cliff point for Spanish bonds the present cost of 6% can not be held for long, thus if Greece is not solved in days the EU might find that its Spain that needs a major bailout, and this blog will promise that German tax payers will not agree to bailout either Spain or Italy. Also the Germans might have pushed the Greeks to far by the suggestion that they hold a referendum on the Euro, the Germans are playing Russian Roulette with the Euro, they think the Greek voters can be pushed around like the Irish voters, that might be a bluff to far folks. Either Germany gets its wallet out big time or Greece has to be thrown out of the Euro and then the money that would have been used to save Greece would be used to protect Spanish Banks. That simple and brutal folks.
No comments:
Post a Comment