Tuesday, 27 November 2012

Greece Bailout latest edition


I like the term kicked into the long grass, and the European finance ministers obviously favour it as well. Greece has just been granted another bail out package, I think this will be the third edition to a problem they keep covering over with sticky plasters. I prefer to think they rather than solving the problem they kick it a bit further down the road into the long grass. 34.4 billion-euro is the latest figure the powers to be have come up with along with 250 billion-euro loan pledges maybe we will actually see Greece will now begin to get back on its feet. The bigger problem on the horizon for Euro zone countries I might suggest is Spain Italy and a new kid on the block in financial need is Cyprus. I must say until this morning I never knew Cyprus was in financial problems but reading up on the Greek Bailout I found that Cyprus needs around €17 billion so I expect the bods in Euroland to be burning the midnight oil to sort out more loans and keep the German voters happy.With the elections due in 2013 Angela Merkel must be hoping for an end to the Euro problems as it is in no way clear she will be re-elected.

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