But fear not, the filthy communists and anarchists in Greece (and other countries) will pay us back, they promised
Posted on 05/09/2010 9:53:26 PM PDT by mlocher
BRUSSELS (Reuters) - Global policymakers unleashed an emergency rescue package worth about $1 trillion to stabilize world financial markets and prevent the Greek debt crisis from destroying the euro currency.
The rescue, hammered out by European Union finance ministers, central bankers and the International Monetary Fund in marathon talks at the weekend, was the largest package in over two years since G20 leaders threw money at the global economy following the collapse of Lehman Brothers.
The size of the package surprised financial analysts and the euro rose close to 2 percent while stocks in Asia firmed.
The U.S. Federal Reserve reopened currency swap lines with several central banks and Group of Seven and Group of 20 finance ministers weighed in with their backing for the measures.
EU Monetary Affairs Commissioner Olli Rehn told a news conference the package of measures "proves we shall defend the euro whatever it takes."
The emergency measures are worth much more than any previous attempts by the 27-country EU or the 16-state single-currency group to calm markets.
They come after the Greek crisis drove sovereign debt yields and insurance on this debt to record levels.
Financial markets had started to punish other euro zone debt of members with bloated budgets such as Portugal, Spain and Ireland, in what Sweden's finance minister described as "wolfpack behaviours."
The $1 trillion package consists of 440 billion euros in guarantees from euro area states, plus 60 billion euros in a European instrument.
(Excerpt) Read more at news.fidelity.com ...
Officials are looking for anyone to blame, except for the politicians who don't have the backbone to balance a national budget.
There is going to be a world wide depression. We’re living on borrowed time.
So we Bailout Greece. So tax dollars are going to help them and not us.
I admittedly don’t understand a lot of this financial stuff...but when you read something like this, it’s just “A trillion dollars from WHERE??”
It’s all too far out of hand.
” trillion dollars from WHERE?”
My wallet, your wallet, your kid’s wallet, and his kid’s wallet and so on and so on.
You have common sense so you understand.
But fear not, the filthy communists and anarchists in Greece (and other countries) will pay us back, they promised
Greece?
These bucks are going to prop up the EUrotopian socialist experiment.
yitbos
It's not that I want it to fall, but, I will be amazed if the dam doesn't break by years end.
Prepare brothers and sisters...
Why do I get a picture of a large field covered with dying unicorns laying all over the place from being forced to constantly defecate huge bags of cash to pay for things like this and Obama’s pie in the sky ideas.
That’s how I understand it too - common sense. I can’t shake the niggling thought I have had for a long, long time - this is all manufactured. How’s that global economy working out for us?
Oh man, I wouldn't even want to know.
I can’t believe that the communists have been able to totally **** up the entire world in just 18 months. Unbelievable.
Next Stop USA?
Since leftists don’t live in the real world then that’s just one of the ways money can magically appear.
You know the saying. "What goes around comes around."
How’s that global economy working out for us?
It’s called One World Government. They want us all in the same boat. Welcome to Kenya.
EASE FEARS
The central bank swap facility is meant to ease fears of a dollar shortage as investors dump riskier assets and move back into the U.S. dollar
Umm, that’s not really working so well for me on easing my fears...
Yes, there's the magic goat, which in bowdlerized versions spits money out of his mouth. Freud invoked the original in his discussion of money and its equivalence to dirt, as in "filthy rich". I forget the point of it, but dead unicorns? That's pushing it!
... oh yeah, anal retentiveness.
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