question about euro economy

Discussion in 'Economy' started by Liberty, Jun 13, 2010.

  1. Liberty
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    Liberty Silver Member

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    How can broke economies lend money to other broke economies who haven't got any money because they can't pay back the money that broke economy had lent to the other broken economy and shouldn't have lent it to them in the first place because the other broke economy can't pay it back?
     
  2. william the wie
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    william the wie Gold Member

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    It's a bit more complex than that more like beggar thy neighbor devaluation to help the stronger countries finance out of the defaults of the weaker countries. The Eurozone for sure and the EU possibly is serving up the weaker sisters as an all you can eat buffet.
     
  3. Neubarth
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    Neubarth At the Ballpark July 30th

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    That, quite frankly, is an understatement.
     
  4. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    It's a game of hot potato being played by Mega Banks and Politicians. They are all desperate to extract their transaction fees and pass the problem to someone else before it explodes.

    It's also a preview of coming attractions if the U.S. doesn't reverse course by decreasing government spending, balancing the budget, and lowering the debt.
     
  5. Neubarth
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    Neubarth At the Ballpark July 30th

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    That is a fairly good assessment.
     

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