Tuesday, May 11, 2010

Greek Bailout

This could be, in the longer run, fairly amusing to watch. The Germans can take a page from the Obama TARP book, and when the Greeks have trouble paying off the big bailout (you think they won't?), the Greek Prime Minister may find a couple of VERY influential advisers on his cabinet, just like G.M.

Of course it's also worth noting that the German loan is being backed by the U.S. which currently finds itself awash in money. While the Greeks may get foreclosed on by the Germans, Mrs. Merkel may find she has some new advisers in her cabinet, fresh from Chicago, but unfortunately not from the famous university. Take their advice, and avoid the concrete overshoes at the bottom of the Rhine.

One badly timed and placed bankruptcy, and the Chicago mob winds up owning Europe!

5 comments:

Brad K. said...

I wonder if the plan is to put Hillary in charge of "European Interests", just to keep her out of Washington, DC.

Thanks - this is truly delightful yet plausible snark!

theotherryan said...

"the German loan is being backed by the U.S. which currently finds itself awash in money."

What is your source for this? I am interested in learning more, provided there is credible documentation. I know the IMF package involves US money but that is another topic all together.

Brad K. said...

TOR,

The Wall Street Journal reported that EU finance ministers agreed to a 750 million Euro bailout, with 250 million Euro coming from the International Monetary Fund, which the Fed funds.

Net Right Nation commented on the US fiscal participation.
http://netrightdaily.com/2010/05/the-fed%E2%80%99s-european-bailout/

(the NRN article links to the WSJ article).

Hope this helps.

theotherryan said...

Brad K, Oh yeah I was tracking the IMF involvement. Guess I am just not making the same leap of thinking that you are. Not saying you're wrong or anything, just a difference of opinion.

Billll said...

I had always thought that putting Hillary in as Sec'y of State was a very clever way to send her to places where nothing important was happening, and that had no TV coverage.

Nicest sentence to Siberia anyone ever got.