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2011-11-26 Europe

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Posted by g(r)omgoru 2011-11-26 05:16|| || Front Page|| [9 views ] Top

#1 bank guarantees means Belgium backstopping the bank's debt is driving the state toward bankrupcy.

More of the same economic lunacy.

Posted by phil_b 2011-11-26 06:56|| 2011-11-26 06:56|| Front Page Top

#2 It's not lunacy it's a scam.

Posted by Bright Pebbles 2011-11-26 07:36|| 2011-11-26 07:36|| Front Page Top

#3 Belgian parties reach 2012 budget deal
BELGIAN politicians reached a deal on the 2012 budget today, ending a 19-month deadlock that had prevented the formation of a stable government and led to a debt downgrade, a negotiator said.

"There is an agreement," said a spokesman for the French-speaking socialists, one of six parties in the linguistically-divided country that had been struggling to reconcile spending cuts with tax rises.

The accord, reached after 17 hours of negotiations, opens the way to forming a new government after 19 months in caretaker management.

Friday night's downgrade by ratings giant Standard and Poor's, which saw Belgium drop by one notch to AA, piled pressure on the parties to reconcile spending cuts with tax rises to avoid EU penalties next month.

Posted by tipper 2011-11-26 12:48|| 2011-11-26 12:48|| Front Page Top

#4 At the same time, Portugal and Hungary have been downgraded to junk status.

Posted by Anonymoose 2011-11-26 17:40|| 2011-11-26 17:40|| Front Page Top

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