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mises
Joined: 05 Nov 2007
Location: retired
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mises
Joined: 05 Nov 2007
Location: retired
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bacasper
Joined: 26 Mar 2007
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 Posted: Sun May 09, 2010 6:47 am Post subject: |
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| Mises, I can't be bothered, nor do I have the time, to read all that stuff. Can't you just give us the one-paragraph summaries, please? |
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bucheon bum
Joined: 16 Jan 2003
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| Posted: Mon May 10, 2010 5:31 am Post subject: |
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EU creates $1 trillion bailout to save Euro
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The European Union put up a staggering $1 trillion Monday to contain its spreading government debt crisis and keep it from tearing the euro currency apart and derailing the global economic recovery.
Analysts said the huge sum supplied the "shock and awe" markets had been waiting for for weeks, at least in the short term, and the euro soared on the news. |
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| Many investors, rattled for weeks by the prospect Greece would default on its mountain of debt, showed relief. The euro climbed as high as $1.3064, up from the 14-month low of $1.2523 it hit late last week. |
Economics of the 21st century: when you need more money, and are a developed country, just print more money! The markets will reward you too, it is fantastic! |
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caniff
Joined: 03 Feb 2004
Location: All over the map
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| Posted: Tue May 11, 2010 5:48 am Post subject: |
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A good read, but perhaps it glosses over the short-to-medium term implications.
I wonder about the societal effects these "austerity measures" will have. |
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