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Merkel´s day of reckoning as tax-
payer haircut on Greece looms

Telegraph [UK], by Ambrose Evans-Pritchard

Original Article

Posted By:Attercliffe, 11/20/2012 3:49:52 AM

They have lent money, at a theoretical profit. They have issued a fistful of guarantees to Europe’s twin bail-out funds, covering Greece, Ireland, Portugal, Spain, and soon Cyprus. They have taken on opaque and potentially huge liabilities through the European Central Bank. Yet little has disturbed the illusion that the euro is a free lunch for the surplus powers. An assumption persists that the creditors will--and should--be spared the consequences of flooding Southern Europe with excess capital. All the losses in Greece until now have been concentrated on those pension funds, insurers, and banks that stayed to the bitter

      


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Reply 1 - Posted by: Chuzzles, 11/20/2012 7:13:52 AM     (No. 9024887)

Reading this headline, reminds me how much I admire the British way with a phrase. At least there is something to still admire about them.

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Reply 2 - Posted by: Mai Bad, 11/20/2012 7:27:57 AM     (No. 9024907)

Yo...yo...Der Nazis ist getting ein Haircut???

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