EU Now Using Italies money to BAILOUT ITALY!

JimBowie1958

Old Fogey
Sep 25, 2011
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This stuff is so crazy, you just cant make it up.

Europe Is Now Officially Bazooko's Circus - Italy To Provide

The EU was already embarrassed into releasing a press release that it could procure €150 billion in Eurozone contributions to the IMF rescue, now that the UK is out of the picture and the December 9 Eurosummit agreed upon total of €200 billion including non-Eurozone contributors (mostly the UK with €30.9 billion) has been "adjusted." Now we find that the rabbit hole goes even deeper into Bazooko's Circus because according to a just released update, of the remaining meager €150 billion in funding, Germany will be responsible for €41.5 bn, France at €31.4 billion, and Italy will need to provide €23.5 billion and Spain another €15 billion. To, you know, bailout Italy and Spain.

Is there any doubt anymore as to why the EU is going to hell in a hand basket?
 
From some comments on the Telegraph site:

Euro rage is reaching new heights over Britain's latest outrage.

Our refusal to pony up a further €31bn we cannot afford to prop up a monetary union that was created against our wishes and better judgment, and with the malevolent purpose of accelerating the great leap forward to a European state that is inherently undemocratic.

It is being presented as treachery, Anglo-Saxon perfidy, and the naked pursuit of national self-interest.

Let me just point out:

1) The UK never agreed to such a commitment in the first place. The line was written into the December 9 summit communiqué in an attempt to bounce Britain into handing over the money.

2) The UK does not consider the rescue machinery to be remotely credible as constructed.

3) The eurozone has the means to tackle its own debt crisis, if it is willing to use them. These include fiscal pooling and the mobilisation of the ECB.


The Brits have always been a stick in the mud when the continent was getting their unity thingy going on, lol.
 
The Brits are not stupid, and neither are the Germans. I don't see the situation ending well, Europe could be headed for a recession/depression or a long drawn out stagnant economy with chronic high unemployment. I hope we're not stupid enough to follow them down that shithole.
 
From some comments on the Telegraph site:

Euro rage is reaching new heights over Britain's latest outrage.

Our refusal to pony up a further €31bn we cannot afford to prop up a monetary union that was created against our wishes and better judgment, and with the malevolent purpose of accelerating the great leap forward to a European state that is inherently undemocratic.

It is being presented as treachery, Anglo-Saxon perfidy, and the naked pursuit of national self-interest.

Let me just point out:

1) The UK never agreed to such a commitment in the first place. The line was written into the December 9 summit communiqué in an attempt to bounce Britain into handing over the money.

2) The UK does not consider the rescue machinery to be remotely credible as constructed.

3) The eurozone has the means to tackle its own debt crisis, if it is willing to use them. These include fiscal pooling and the mobilisation of the ECB.


The Brits have always been a stick in the mud when the continent was getting their unity thingy going on, lol.

we have a pretty good euro thread going here, join us;)

http://www.usmessageboard.com/europe/169592-the-euro-thread-16.html
 

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