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Old 05-23-2010, 03:23 PM
Location: Murphy, TX
635 posts, read 2,497,465 times
Reputation: 421


Looks like there many countries out there in EU zone that are close to bankrupt, especially Greece. Recently the EU and IMF made guarantee of up a total of $1 trillion (or $750 billion Euros) in bailout to help these countries. Have look at these article for more details:

IMF's Reach Spreads to Western Europe - WSJ.com

The Associated Press: EU seeks tougher budget rules to win market trust

Is bailing out these countries with billions the right thing to do? Will these loan actually help stabilize these countries and will the loans actually be paid back?

The bleakest picture is looking at Greece currently. Greece has already started to take out loans from the fund. However, their austerity plan has been facing massive protests. There debt reduction plan may never pass or take full effect. Other countries like Spain, Portugal, and Ireland already are lining up for help after plan was formulated. Will bailout actually solve the debt problem of all these countries?
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Old 05-23-2010, 09:48 PM
Location: SWUS
5,414 posts, read 7,626,771 times
Reputation: 5781
What will solve these problems?
Allowing them to work more hours, cutting unnecessary government, and reducing or eliminating services which are redundant (you don't need ten different welfare programs), and... dunno what else.

Solving problems on a local or even regional scale is much easier than the multilevel problems with debt that European nations have.
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Old 05-24-2010, 12:25 AM
Location: Houston, Texas
1,084 posts, read 1,338,082 times
Reputation: 497
10 Governments That Went Bankrupt

Included on that list are Russia, Great Britain, Germany, France, Spain. Suspiciously missing on that list is America. Yes, the United States went bankrupt in the early 20th century and then we enacted Executive Order 6102, which made it illegal for private citizens to own gold. All private gold was purchased at a fraction of its value and given to the Federal Reserve Bank as a down payment on the loan they gave to the government. We are all owned by the Federal Reserve Bank.
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Old 05-24-2010, 06:54 AM
Location: Londonderry, NH
41,505 posts, read 49,547,847 times
Reputation: 24548
The money being "loaned" to Greece is not going to individual citizens unless they happen to own a substantial amount of a bank or two. This money is not to bail out the citizens it is to bailout the wealthy and then have the citizens pay it back. Typical IMF scam.
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