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So, what about Italy? Where is the money coming from?
Graham_Devon
Posts: 58,560 Forumite
Irish Bailouts.
Greek Bailouts.
Spanish Bailouts.
Next will be Italy. The writing is firmly on the wall. You'll know when the bailout is about to happen as the eurocrats will be denying it will happen at every opportunity.
I've been trying to take in as much as possible, but unfortunately, I'm left a little baffled.
Where is the money actually coming from? How does it get paid back (if it does?).
If all this money is sloshing around, would it not be easier to write off debts and start again instead of all the suffering and misery of the people who inhabit the countries?
How will Italy be bailed out and where will the money come from for that? There wasn't enough money for Greece not long back, but suddenly a new fund with half a trillion squids in it is simply invented.
Guess I'm just trying to get a sense of where we are going from here. We've got the Greek issue coming up within a couple of weeks again. The results of the election won't be the "right" results, therefore I assume we'll throw some money at it and send them to vote again?
Greek Bailouts.
Spanish Bailouts.
Next will be Italy. The writing is firmly on the wall. You'll know when the bailout is about to happen as the eurocrats will be denying it will happen at every opportunity.
I've been trying to take in as much as possible, but unfortunately, I'm left a little baffled.
Where is the money actually coming from? How does it get paid back (if it does?).
If all this money is sloshing around, would it not be easier to write off debts and start again instead of all the suffering and misery of the people who inhabit the countries?
How will Italy be bailed out and where will the money come from for that? There wasn't enough money for Greece not long back, but suddenly a new fund with half a trillion squids in it is simply invented.
Guess I'm just trying to get a sense of where we are going from here. We've got the Greek issue coming up within a couple of weeks again. The results of the election won't be the "right" results, therefore I assume we'll throw some money at it and send them to vote again?
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Comments
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Graham_Devon wrote: »
Where is the money actually coming from? How does it get paid back (if it does?).
International bond markets.
By running down the asset books of the banks. Releasing capital to make repayments.0 -
Graham_Devon wrote: »Irish Bailouts.
Greek Bailouts.
Spanish Bailouts.
Next will be Italy. The writing is firmly on the wall. You'll know when the bailout is about to happen as the eurocrats will be denying it will happen at every opportunity.
I've been trying to take in as much as possible, but unfortunately, I'm left a little baffled.
Where is the money actually coming from? How does it get paid back (if it does?).
If all this money is sloshing around, would it not be easier to write off debts and start again instead of all the suffering and misery of the people who inhabit the countries?
How will Italy be bailed out and where will the money come from for that? There wasn't enough money for Greece not long back, but suddenly a new fund with half a trillion squids in it is simply invented.
Guess I'm just trying to get a sense of where we are going from here. We've got the Greek issue coming up within a couple of weeks again. The results of the election won't be the "right" results, therefore I assume we'll throw some money at it and send them to vote again?
Presumably it comes from the fractional reserve system, the same as all other money. The Greeks will have to pay back the principal, which will be wiped out, plus the interest (the money for which doesn't exist currently) over the next 400 years or whatever it is.
It's a great system that ensures that the people who have little get less and those that control the money supply get even more.0 -
LTRO2 aka The Sugar Rush
Italian banks borrow from the ECB at 0.5% and buy Italian bonds yielding 6%.
hailed by Sarkozy as the end of Europe's troubles, the rush rush seems to have worn off, leaving European banks more intertwined with their governments holding yet more dodgy sovereign debt (non European debt holders having taken the opportunity to sell their holdings).0 -
Graham_Devon wrote: »I'm left a little baffled.
Why am I not surprised....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Why am I not surprised....
Explain it to me then.0 -
Graham_Devon wrote: »Explain it to me then.
What do you want me to explain?“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Graham_Devon wrote: »Irish Bailouts.
Greek Bailouts.
Spanish Bailouts.
Next will be Italy.
Plucky little Cyprus might need a bailout before Italy.
Its hard to see how Cypriot banks will cope if Greece defaults given the extent of their exposure.0 -
So how much does Italy need? How will anybody ever know? Are there any accounts or stats in Italy that aren't fiddled already? Are there any auditors at all?
Italy is run by four manifestations of organised crime - the M@fia, the politicians, the law enforcement system and the Vatican. If they can't borrow as much, they won't be able to steal as much. Swiss banks will do less business. Nothing else will change much."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
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It'll distract folks whilst we're overtaken/bought out by parts of Asia.0
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