Category Archives: Trillion dollar Euro bailout

Confidence with a capital T

T for trillion that is.

It’s been a wild week or two in Europe, and just like the wild west, the EU has headed debt off at the pass with their $1.1 trillion dollar guns.

No longer called the ‘Greek bailout’ this is the European bailout – the US$962 billion, or in AUD$1.1trillion bailout is for all European nations that might be feeling a little shakey in paying back their debts. Rather than go through the whole messy process of default and repo men (which like most repo men activities usually involves losing the China that was given as a wedding present) European nations got together and collectively thought ‘you know we’re all pretty busy, we don’t have time for another round of meetings when Ireland, Portugal and Spain look set to fall over lets just make sure they have money now’. Continue reading

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