Community

Share knowledge. Find answers. Ask questions.

Online Share Trading

Engage and learn about markets and trading online

My big fat Greek bailout

Reply
Highlighted
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.
0 Kudos
9 REPLIES 9
Highlighted
Valued Contributor
$30billion is petty cash in bail out speak ..
0 Kudos
Highlighted
Super Contributor
Slovakia won't like that :)
0 Kudos
Highlighted
Valued Contributor
I thort Slovakia was a greek dish ??
0 Kudos
Highlighted
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...
  • 0 Kudos
    Highlighted
    Super Contributor
    They're being bailed out by a dinner? It's worse than I thought.
    0 Kudos
    Highlighted
    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 . .
    0 Kudos
    Highlighted
    Not applicable
    I wonder if you realize how close to the money you actually are there,..
    0 Kudos
    Highlighted
    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.
    0 Kudos
    Super Contributor
    If the FTSE closes red today, would that be considered as a key reversal day?
    0 Kudos