Anorak | Yes, Europe’s Going Bust!

Yes, Europe’s Going Bust!

by | 7th, November 2011

YES, Europe’s Going Bust! I think we all pretty much knew this was happening, there have been enough stories about it just recently. But it does really rather look like Europe really is going bust .

Eurozone finance ministers will on Monday night begin a frantic search for new sources of capital to boost the area’s main bailout fund to €1 trillion after the US and emerging powers refused to commit fresh funds at the G20 summit last week.

Here’s the thing you need to understand. That €1 trillion bail out fund, the one that’s going to save everyone and everything. They want to go and borrow the money for that €1 trillion bail out fund. And no one wants to lend them the money: quite wisely really.

That’s where this all falls down. They could just print the money at the ECB, that would cause some inflation but it would be real money that could be spent. They could try and gouge it out of us taxpayers (about €2,000 for every man woman and child in the EU)

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Posted: 7th, November 2011 | In: Money Comments (3) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink