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Speaking at the press conference, Sarkozy says the IMF (i.e. U.S., maybe China too) will partner...
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Wednesday, October 26, 2011, 10:10 PM ETSpeaking at the press conference, Sarkozy says the IMF (i.e. U.S., maybe China too) will partner with the EU to provide additional bailout funds. He believes the EFSF can be leveraged to provide €1T in firepower without threatening any EU core credit ratings. Under the plan, Greek debt/GDP would fall to 120% by 2020. None of this is new information, all having been leaked out during past days.
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This news story has 17 comments:
Its simple. they need to actually cut spending and get rid of the bureaucracy. Then they need to properly collect taxes.
No one will like it - but thats tough. There is no reason the USA should be providing bailout funds to Greece through the IMF.
The fact that you and I get nothing out of it is irrelevant to those in command.
im trying to count the total amount of bs that comes from his mouth on a daily basis . keep moving the goal posts and provide zero details.
its a lie that they believe if you keep telling it people will forget the question.
we are now bailing out european banks ? pretty sure that is what you would call political suicide.
oh , you need a trillion dollars for european banks and mega bonuses ...look what i found.
if it wasnt tragic it would be laughable.
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Not everything, just those investors and banks that were stupid and continued to loan Greece money when they knew there was zero chance of being paid. Its called capitalism. Stock holders lose. Then Bond Holders lose. Then the Greek bureaucracy loses because they'll actually have to fire half of them and reduce pay/benefits to something reasonable. Then they'll have to balance their budget!!! Imagine that!!!