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Wednesday, November 02, 2011

Where's The Meat?

As Eurozone "Leaders" meet at the G20 in Cannes today, amid the wreckage of the bailout "plan" that was scuppered by Greece's decision to hold a referendum on remaining in the Euro, I have but a simple question to ask.

In the unlikely event that the "plan" for the Euro1Trillion EFSF bailout has not collapsed, where exactly is the money coming from to fund this?

I ask, because the Euro3BN fund raising to bailout Ireland has been pulled by the Eurozone.

The reason for it being pulled?

"Market conditions".

Now, if they can't raise a mere Euro3BN, how the hell do they expect to raise Euro1Trillion?

Oh, and one more thing, isn't Greece about to run out of money in the next week or so?

Given that the referendum has in effect put the bailout "plan" on hold (after all they cannot be forced to accept the money if they have not yet approved the "plan"), how will Greece pay its bills in the meantime?

Does anyone actually know the answers to the above?

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