March 26, 2010

My Big Fat Greek Bailout

Filed under: Uncategorized — Novak @ 4:33 pm

As Greece’s debt problems intensify, and riots continue to rock that country, there may be a glimmer of hope.  Leaders of the other nations of the Euro Zone (nations that use the Euro as their currency) have laid the groundwork for a Greek rescue.  An agreement was reached between the between the bloc of nations and to provide a last ditch bailout to Greece with IMF (International Monetary Fund) assistance.

A Greek bailout is strongly opposed by members of other European nations notably Germany.  Recently we have seen public demonstrations against the very type of deal that was just struck by that country’s leadership.

On the other side, however, many in France argue that the Euro is the EU’s greatest success and no expense should be spared to protect its value.  Since the beginning of the year, the Euro has dropped 7% of its value relative to the US Dollar.  Clearly a Greek default would have ripples throughout Europe and the World.  So the question is which is the lesser of the two evils?


Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: