Multi-trillion plan to save the eurozone being prepared - Telegraph
The scary thing is that the pundits at the Telegraph seem to want to give the impression that this ridiculous idea work. In reality it's a complete joke that would pile more debt on to France/Germany - leading to a French downgrade, and then a German downgrade and finally complete collapse. It's yet another can kicking exercise that's floored from the word go. If this goes ahead, watch the CDS on France go through the roof.
For crying out loud just let the bloody banks fail, sure it won't be pleasant, but it will be a much better outcome in the long run, and the people at fault get to take some of the pain.
Why the hell have banks still got exposure to Greece???-They've had plenty of time to protect themselves - but that would have meant hitting the share holders and reducing bonuses pro-actively. So now they want another tax payer bailout - well I think most people think to hell with them! The CEOs of these banks should all be thrown in gaol, along with the politicians proposing to spend tax payer money on saving them again.
The above is a comment I copied from the above Telegraph article, but it echoes my sentiments exactly. The euro nations are in so much debt now because they came to the rescue of their corrupt banks 3 years ago,and lent them countless billions. Now politicians are telling us to do more of the same, excuse me a second, but has the world gone absolutely stark raving mad? No amount of bailouts will rescue the situation, we are in this mess precisely because we took the debt on in the first place. Too big to fail is a nonsense, lets start again and purge the system of this cancer!