Wednesday, July 25, 2012

Don't Understand Greece

I don't understand how come Germany is expected to bail out every EU country.

Global stock markets are way down this morning because of new fears over the stability of the Eurozone. And the worries can be traced to Athens, where a national default is looking like more of a possibility. There's reluctance from Germany to step in again with another bailout of Greece. And the health of big European banks is in question because of their exposure to Greek debt.(

A German court today ruled it was legal for Germany to help bailout European neighbors Ireland and Greece. But as part of the ruling, it'll now be harder for other countries who might be looking for financial help. Germany is Europe's biggest economy, and so bears the biggest burden of any bailout. (

Moody's Investors Service is lowering its outlook for the credit ratings of Germany, the Netherlands and Luxembourg, citing the mounting uncertainty over the debt crisis in Europe and the possibility that those stronger countries would have to provide aid to Spain or Italy.
The rating agency said that it is revising its outlook to "Negative" from "Stable" for the three countries' top Aaa ratings. The increasing likelihood that Greece could withdraw from the group of countries that use the euro currency deepens the crisis, Moody's said.
The region's debt debacle flared anew Monday as fears intensified that Spain, the fourth-largest economy in the euro group, would be next in line for a government bailout. (

They must be getting tired of it.  Riots in Greece and other countries as they are required to slim down to get the aid.  It seems to me that the Euro is not long for this world!

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