Wednesday, February 10, 2010

MORE WORRYING NEWS about the euro:
The EU is working feverishly to solve the Greek sovereign debt crisis. Yesterday, in an article in the German-language Financial Times Deutschland, CDU/CSU Bundestag Fraktionschef Michael Meister (the equivalent of Nancy Pelosi in America) said that all options to ‘aid’ Greece were being considered including bilateral aid. Bilateral support now seems off the table because of EU rules against this type of intra-EU support. The German financial newspaper Handelsblatt reports unspecified government officials saying that even EU aid is off the table.