Friday, April 23, 2010

Greece Seeks Activation of EU/IMF Aid

The Greek patch job is about to be put into place.

Greek Prime Minister George Papandreou said today he has given the Finance Ministry a mandate to ask the EU to release an aid package designed to help the government stave off a default.

This will temporarily hold off a Greek default, but Greece is a sink hole for money. Is the plan to just pump money into Greece in perpetuity? Further, note that the IMF is involved in this bailout, which means the U.S. taxpayer is involved. Congratulations.

Now on to crises in Portugal, Spain, California, Los Angeles, Florida.... !

1 comment:

  1. Gee, that's funny, I could've sworn that the headlines for the last four weeks were of the Greeks denying they needed aid.

    That's soooo weird that they're now asking for aid. I am starting to think I am crazy and was misreading everything for weeks.