Telegraph: Reports that EU leaders have agreed to a 600 billion bailout for Spain and Italy.
Lets Get Real:
This sounds good folks, but the combine debt of Spain and Italy is the trillions not billions, also from the brief details it does not solve the main problem with the Euro, it needs one finance minister, one tax system, one government for it to work, the EU elite might not think democracy matters but it does. Also lets see what the reaction is in Germany, Chancellor Merkel leads a Coalition Government, she needs them to approve any bailout, also its against the Basic Law of Germany for Germany to take on the debts of others. Lets see the details of this deal folks, leaders at a Summit might agree anything if just to get away, politics is politics, deals can fall apart. Lets see how this plays out over the next few days.
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