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My big fat Greek bailout

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richardw
Super Contributor
http://ftalphaville.ft.com/blog/2010/04/12/200146/robbing-pedro-to-pay-paul-of-greece/

"There is some uncertainty about whether the activation of the support mechanism will eliminate all contagion risk. One problem is that other fiscally stressed countries will be contributing to the funding, although the amounts are very small . . ."

Slovakia must be digging having to pay 300 million euros for Greece. WTF.
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9 REPLIES 9
SimonPB
Valued Contributor
$30billion is petty cash in bail out speak ..
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richardw
Super Contributor
Slovakia won't like that :)
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SimonPB
Valued Contributor
I thort Slovakia was a greek dish ??
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richardw
Super Contributor
The main issues are:
  • Some of the countries putting money in *really* have better things to do with the money. Ireland, say.
  • This is a first stab at it - Greece wants 80bn over the next couple years.
  • We're assuming no bigger country needs bailouts. If they do, and this is the way to pay for them...
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    richardw
    Super Contributor
    They're being bailed out by a dinner? It's worse than I thought.
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    HateGauteng
    Super Contributor
    What were the Germans thinking when they tried to conquer Europe??? They should have just waited a few decades and then bought the place . .
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    Not applicable
    I wonder if you realize how close to the money you actually are there,..
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    Wino
    Super Contributor
    Well, having the IMF as an alternative would be like having slovakia with sauerkraut and turnips. Yech!. Sovereign euro states don't have the luxury of their own currency to help them out the poo when times are rough so need help. Maybe this will focus the ECB to look at the euro structure and mechanisms to assist member countries which is a weakness in the system. Once this is in place you can go long $/Eu. Something good always follows a bad patch.
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    HateGauteng
    Super Contributor
    If the FTSE closes red today, would that be considered as a key reversal day?
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