European Debt Crisis

ZenGum · 05-11-2010, 06:04 AM

Euro leaders have agreed to a 730 billion euro set of loan guarantees. It is intended to head off the chance of a domino effect taking out the remaining PIIGS, but some critics say they're just spreading the problem around, setting the whole thing up for a bigger, worse crash later. For it to actually work as planned seems to depend on debt-laden countries learning to live within their means.

classicman · 05-11-2010, 09:48 AM

Quote:

Originally Posted by ZenGum

critics say they're just spreading the problem around, setting the whole thing up for a bigger, worse crash later.

Same thing some critics here are saying.

Quote:

For it to actually work as planned seems to depend on debt-laden countries learning to live within their means.

Highly unlikely in today's climate.
Color me pessimistic

05-11-2010, 06:04 AM	#1
ZenGum Doctor Wtf Join Date: Oct 2007 Location: Badelaide, Baustralia Posts: 12,861	Euro leaders have agreed to a 730 billion euro set of loan guarantees. It is intended to head off the chance of a domino effect taking out the remaining PIIGS, but some critics say they're just spreading the problem around, setting the whole thing up for a bigger, worse crash later. For it to actually work as planned seems to depend on debt-laden countries learning to live within their means. __________________ Shut up and hug. MoreThanPretty, Nov 5, 2008. Just because I'm nominally polite, does not make me a pussy. Sundae Girl.

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