Euro

We Are Sliding Into The Abyss

No joke kids. EU Preps $645 Billion Fund to Fight ‘Wolfpack,’ Debt Crisis May 10 (Bloomberg) -- European Union finance ministers moved toward agreement on an unprecedented loan package worth at least $645 billion to prevent Greece’s fiscal woes from triggering a broader sovereign-debt crisis and shattering confidence in the euro. Jolted into action by last week’s slide in the currency to a 14-month low and soaring bond yields in Portugal and Spain, the 16 euro governments sketched out plans to make 440 billion euros ($570 billion) available, with 60 billion euros more from the EU’s budget, according to three…
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EU Finance Ministers Try To Save The Euro

Buckle up kids, the next few weeks are going to be very interesting. EU Preps Euro Fund to Fight ‘Wolfpack,’ Debt Crisis (Update2) May 9 (Bloomberg) -- European Union finance ministers pledged to stop a sovereign debt crisis from shattering confidence in the euro as they held an emergency summit to hammer out a lending mechanism for deficit-stricken nations. Jolted into action by last week’s slide in the currency to a 14-month low and soaring bond yields in Portugal and Spain, leaders of the 16 euro nations agreed on the backstop yesterday and told ministers to get it ready before…
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Société Générale: Euro Headed For Collapse

What a headline to wake up to.  When one of the oldest banks in the world, and one that we as taxpayers helped bailout using AIG funds makes these types of statements, you better listen up. Collapse of the euro is 'inevitable': Bailing out the Greek economy futile, says FRENCH banking chief The European single currency is facing an 'inevitable break-up' a leading French bank claimed yesterday. Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide 'sticking plasters' to cover the deep- seated flaws in the eurozone bloc. The stark warning came…
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