Article

2010-04-09 Europe

Bundesbank attacks Greek rescue as a threat to stability

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Posted by tipper 2010-04-09 04:51|| || Front Page|| [3 views ] Top

#1 "But, but, but, aren't we all Europeans together?"

Posted by g(r)omgoru 2010-04-09 05:28|| 2010-04-09 05:28|| Front Page Top

#2 The joint rescue between the IMF and the EU would turn the Bundesbank into a "money-printing machine" for the purchase of Greek bonds, according to Rundschau.

Hyper-inflation here we come.

Posted by phil_B 2010-04-09 08:42|| 2010-04-09 08:42|| Front Page Top

#3 Maybe not. You have to consider that the USD is the world reserve currency.

Would you switch to the euro is it bails greece out? Of course not, because you have ireland and spain who will want their handouts, that means a more euros and a weaker currency.

The Euro was the only serious contender, so this is very dollar positive.

Posted by flash91 2010-04-09 16:59|| 2010-04-09 16:59|| Front Page Top

#4 flash91, the USA is already printing money to buy its own debt. The last figures I saw, as much as 80% of the debt issued by the USA was being bought by the Fed using newly issued money.

Hyper-inflation will be a worldwide problem, because even the likes of Germany has little prospect of paying off its debts as economies contract due to governments trying to reign in out of control debts.

To paraphrase,

I have seen the future, and it is Greece.

Posted by phil_B 2010-04-09 19:19|| 2010-04-09 19:19|| Front Page Top

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