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£1.75 Trillion Deal To Save The Euro

Sunday, September 25, 2011 - 6:40 AM
They had to come up with something before the markets open on Monday...

The three-pronged deal would set up a massive fund to create a "firewall" around the most indebted eurozone countries, allow for an "orderly" Greek default on at least some of its liabilities, and bail out European banks most at risk from debt.

German and French officials came up with the strategy which aims to end the eurozone's sovereign debt crisis before it spirals completely out of control, plunging the world back into recession.

£1.75 trillion deal to save the euro - Telegraph
3
ShorebreakShorebreak2,608 posts since
Apr 6, 2010
Rep Points: 14,130
1. Sunday, September 25, 2011 - 7:57 AM
It's at best, a temporary stop-gap measure. The Euro is doomed. The better-run countries like Germany can't afford to keep on bailing out countries like Greece, who never heard of a balanced budget, the Greek politicians are bought off by the unions and goverment employees. The only solutions is to have ALL the countries dump the Euro and go back to their own currencies. Then, the poor-run countries can debase their currency without hurting the better-run countries.
1
jep1960jep196018 posts since
Jun 14, 2011
Rep Points: 65
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