And So one ‘G’ rescues another ‘G’ for both to survive as Germany bails out Greece !…we ‘Gs’ ‘Bond’ well,whether we like it or not !
523 in ‘G’ermany’s Parliament voted overwhelmingly today in favour and just 85 against of increasing the European Financial Stability Fund to Euros 440 billion…largely to fund the immediate bailout of ‘G’reece,who would have otherwise defaulted
So Greece will not Default this year in 2011….but in all probability will in 2012 !…and lay the path ahead for exiting from the Eurozone altogether….
Euro and the Eurozone survives to die another day !
We ‘Gs’ really do stand up for each other !…and you dare not say a ‘G’ caused the situation in the first place !
‘G’heers!
4 thoughts on “And So one ‘G’ rescues another ‘G’ for both to survive ! as Germany bails out Greece …we ‘Gs’ ‘Bond’ well,whether we like it or not !…The Euro & The Eurozone survive to die another day !”
G commented on G for G. Wow thats Gr8!
Hello Sir,
`G’ood review 🙂
Thanks,
Praavin
Hi Gaurav! This is how grown-ups play games with little children. They grant some points gratis just to keep the game going for some more time. So much for the future of Euro-zone. Economic integration has its limitations and limits!
Euro and Eurozone’s problem lies in its very making. When Euro was established it was agreed that all countries woul manage Debt below 60% of their GDPs and spend not more than 3% as public spending. That did not happen as even rich core nations Germany and France violated all norms.
Interestingly Germany has no other option but to bail out Greece. 60% of its exports are to eurozone. If Greece decided to go back to its old currency (not easy but not impossible) and a few more follow suit these nation’s depreciated currency will make life tough for Germany.