Is Germany running the show in Europe? - donchayo's Blog

BluntNews

Is the newest collaboration with the IMF and the European countries that bailed out Greece, the EMF?  I don't know, but that's what happened.  2/3 of the bailout of Greece is backed by the Europeans, (mostly Germany because of it's pushing a lot of exports out the window) and the other 1/3 by the IMF.

 Suggested Reading:

http://online.wsj.com/article/ SB1000142405274870410060457514 5280583684718.html?mod=WSJ_bus iness_EuropeNewsBucket

BY EMESE BARTHA FRANKFURT

—The European Union's agreement Thursday to set up a safety net for Greece as it weathers its debt crisis boosted the country's government bond prices Friday, paving the way for a new bond issue as early as next week. The rescue plan, which will involve assistance from the International Monetary Fund and provides Greece with a system of standby credits to guard against threatened insolvency, also brought down the cost of insuring Greek debt against default.

My Call:

Watch the Dow continue to climb steadily since there is TEMPORARY certainty in the European markets.  Will it hit 11,000 like I said?  Will President Obama get any credit for it?  But hold on folks, there still is a problem with the British pound.  Now who's going to bail the pound out? Will it be the US, the IMF, the World Bank? Monday, be ready to move your money in the bond markets.  

I have a serious question though.  The home of Diego Maradona, Argentina, took the brunt of the currency crisis when the baht fell.  What can we learn from Argentina? &nbs p;What they did, and how the World Bank reacted, will be a discussion next week.