This happened to Greece, to Ireland and to Portugal and all three of them ended up needing bailouts. Now it is happening to Italy and Spain may follow shortly, but the EU cannot afford to bail out either of them.
(Reuters) - German and French officials have discussed plans for a radical overhaul of the European Union that would involve setting up a more integrated and potentially smaller euro zone, EU sources say.
So much for the US decoupling. Following 5 days of persistent refusals to deal with reality, the real world finally came back with a bang, and while the overall market tumbled the most in two months, it is really financial stocks that took the brunt
It's likely nothing more than a power elite dominant social theme, that the Euro-crisis is a deadly one and that the EU simply cannot figure out what to do. The meme is simple: Financial leaders with power and common sense must come to the rescue.
A deal on a new coalition government in Greece has been reached - but current prime minister George Papandreou will not be at the helm.
A recently posted YouTube video, "EU: Treaty of Debt (ESM) - stop it now!" is attracting attention in the blogosphere because of shocking allegations about what the treaty means to Europeans.
I think the Internet has panicked the elites behind this particular conspiracy. They are losing ground every day, perhaps, and don't think they can wait any longer. They need to act before a popular consensus forms against them.
This is a big dominant social theme of the power elite – that central banks fight inflation. Central banks CREATE inflation by printing money from nothing. But the elite promotion is orchestrated to avoid that reality.
Greece’s prime minister has abandoned his plan to hold a referendum on eurozone membership and instead set his sights on winning a parliamentary confidence vote, a dramatic about-face welcomed by European leaders and financial markets.
The Daily Bell's Anthony Wile appeared on Russia Today television to discuss the Greek crisis that is setting Europe ablaze with talk of a euro default and a split in the European Union.
The decision has raised fears that a rejection of the unpopular EU agreement will renew risks of a Greek default and might even force the country to leave the eurozone.
One unspoken reason that Eurocrats are trying to set up a US$5 trillion slush fund is because Spain, Italy, Portugal and even France are in danger of collapsing into Greek style chaos. This article tells us something about Spain's increasing dilemma.
Iceland told the banks to pound sand. And Iceland’s economy is doing much better than virtually all of the countries which have let the banks push them around.
"The gloves are off! Greek PM prepares for showdown with Merkel and Sarkozy tonight as Europe teeters on the brink of financial disaster"
The debt crisis in Europe just seems to get worse with each passing day, and it is yet another glaring example of why the EU is a mind blowing failure.
People speak of free markets – especially when it comes to equities – the bottom line is much different.
NEW YORK—U.S. financial stocks slid in a broad global stock-market slide, as Greece's plans for a referendum fueled worries that the euro-zone bailout plan might fall apart.
Yves here. Note the comment at the end, that Sarkozy’s sales pitch to China on the levered up EFSF did not go so well. If the Chinese don’t relent, this greatly reduces of this scheme working, even in the short term. And further note that the flaggin
Oct. 31 (Bloomberg) -- Italian Prime Minister Silvio Berlusconi said he alone can deliver the country’s promised deficit cuts as European leaders ramp up demands that his government do its part to combat the region’s debt crisis.
Conversation shall turn to the IMF's SDR currency-in-waiting and how the IMF should serve as global central bank, dishing out its incomprehensible basket-fiat currency to all and sundry. This is perhaps the REAL plan – or one of several plans,
Let's be honest - this deal is not going to solve anything. All it does is buy Greece a few months. Meanwhile, it is going to make the financial collapse of other nations in Europe even more likely.
Far from making the situation clearer, allowing investors to make considered assessments, this latest announcement made Western Europe's grotesque debt crisis even more acute, sowing further infectious spores of confusion.
The euphoria over Europe’s latest rescue package faded quickly. Now the question is whether European leaders will ever agree on measures needed to end the sovereign debt crisis, and whether they will get another chance.
Though pleased by the size of the haircut for Greek bondholders, international investor Jim Rogers says the deal isn't enough to save Europe, and the problem is likely to come back to haunt investors in the near term.
Street poster depicts German Chancellor wearing a swastika armband bearing the EU stars logo on the outside
warned that the scheme could be hit by market turbulence with taxpayers left holding the bill for risky investments in Italian and Spanish bonds.”
The world's biggest traders and investors thus have the certainty that market itself is backed by unlimited funding. Between artificial market supports and endless fiat-money availability it is a wonder American stock markets especially have not blas
Of course, by now you know the EU has announced another "miraculous" bailout. But this article, written by one of our favorite mainstream journos, Ambrose Evans-Pritchard, shows why it won't work, can't work and NEVER WILL work.
European leaders moved early Thursday to stem the debt crisis gripping the continent by agreeing to a plan that imposes steep losses on investors holding troubled Greek bonds and boosts the firepower of the region’s bailout fund to at least a trillio