Reply to: €600 bilion bailout Spain and Italy

[Doggy Styles]

The system is well and truly bust.....

I think the whole capitalist system needs to change/evolve to get out of this mess.

There have always been shocks to the system, followed by periods of rebalancing of currencies and recovery.

The problem now is that some nations can no longer do that.

[BrilloPad]

But we're told by some on here that only the UK does QE, not the eurozone.

Once again the Europeans are behing the UK. About time they learnt from the masters.

[DimPrawn]

It's all meaningless when you remember that money is electronic and not backed by anything, so 600,000,000,000 is actually nothing.

Just helps the big banks to settle their gambling debts and play on for a while.

[NorthWestPerm2Contr]

The system is well and truly bust.....

I think the whole capitalist system needs to change/evolve to get out of this mess.

[ThomasSoerensen]

Bloody hell!

[petergriffin]

Some bastards are going to get really rich out of this mess.

Goldman Sachs

[Doggy Styles]

Very good question! The fund the money will come from does not exist yet.

Everyone knows it would be far better to do this via QE.

But we're told by some on here that only the UK does QE, not the eurozone.

[BrilloPad]

Where exactly is this money coming from?

Very good question! The fund the money will come from does not exist yet.

Everyone knows it would be far better to do this via QE.

[d000hg]

I thought we just did Spain.

[BlasterBates]

whos actually left in the eurozone to fund this apart from germany?

Luxembourg.

[mrdonuts]

whos actually left in the eurozone to fund this apart from germany?

who were the beneficiaries of all this debt, people somewhere have made a killing out of all this

[SupremeSpod]

Title wrong, its 600 billion pounds worth, not euros

For comparison:

US TARP bank bailout USD 700bn
Spain and Italy bailout ~ USD 940bn

Some bastards are going to get really rich out of this mess.

Hope they're using our software.

[CheeseSlice]

Debt crisis: Spain and Italy to be bailed out in £600bn deal - Telegraph

Makes Greece's bailout look like pocket change.

Title wrong, its 600 billion pounds worth, not euros

For comparison:

US TARP bank bailout USD 700bn
Spain and Italy bailout ~ USD 940bn

[Malcolm Buggeridge]

I thought they said Spain was too big to be bailed out?

Anyhow, that infamous can must be getting sick of being kicked down the metaphorical road.

[minestrone]

Debt is cascading up the Euro nations.