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Ear to the Ground

EU Moves to Shore Up Bailout Fund

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Posted on Mar 25, 2011
Euro symbol
AP / Daniel Roland

European Union financial officials meeting in Brussels have agreed on the setting up of a permanent bailout fund, even as Portugal reportedly teeters on the precipice of financial collapse.  —JCL

The BBC:

European leaders have agreed a restructuring of a financial bail-out fund that they hope will resolve the bloc’s debt crisis.

Eurozone ministers bowed to German demands to renegotiate the time-frame for contributions to the massive fund.

But the deal was overshadowed by concerns about Portugal and a growing row that the UK may be forced to contribute to a financial bail-out.

Portugal says it does not need aid, but many analysts say Lisbon is in denial.

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By frecklefever, March 26, 2011 at 1:14 pm Link to this comment

ECONOMICS BASED ON ANARCHY IS THE LESSON….BUT THE SOLUTION IS
MORE OF THE SAME…SAY THE MILTON FRIEDMAN CUCKOOS…

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Napolean DoneHisPart's avatar

By Napolean DoneHisPart, March 26, 2011 at 10:53 am Link to this comment

Q: What prompted the rise of Napoleon in France so long ago?

A: The printing of a fiat currency, whose currency was backed by something of nominal value, by the ‘king’ of France himself to decorate and elaborate his property, the Louvre.

When the inflation hit the street, the people couldn’t buy enough to eat.

Patterns… history if full of them, for man’s corruptible heart has NOT changed one bit.

Now let’s see the schills and obfuscatory elements come out with their many TD accounts and argue this reality.

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PatrickHenry's avatar

By PatrickHenry, March 26, 2011 at 10:39 am Link to this comment

I hope they looked closely at Iceland and its refusal to bailout private banks, they are doing fine.

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By TDoff, March 25, 2011 at 3:14 pm Link to this comment

Here in the US, we assumed a criminal amnesty for the thieves and scamsters and fraudsters who created the debt crisis, but no amnesty for their victims, the debtors. Let’s hope the EU is wiser than that.

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