And Finally - The Usa To Bailout Italy For 794 Billion - Well The Imf

T

THE-BEAKER

YOU CANT MAKE THIS STUFF UP

HERE IT COMES VIA UNCLE SAM OBVIOUSLY

IMF Readying Loan of as Much as $794 Billion for Italy, La Stampa Reports

The International Monetary Fund is preparing a 600-billion euro ($794 billion) loan for Italy in case the country’s debt crisis worsens, La Stampa said.

The money would give Italy’s Prime Minister Mario Monti 12 to 18 months to implement his reforms without having to refinance the country’s existing debt, the Italian daily reported, without saying where it got the information. Monti could draw on the money if his planned austerity measures fail to stop speculation on Italian debt, La Stampa said.

Italy would pay an interest rate of 4 percent to 5 percent on the loan, the newspaper said. The amount could vary from 400 billion euros to 600 billion euros, La Stampa said.




http://www.bloomberg.com/news/2011-...on-euro-loan-offer-for-italy-stampa-says.html
 
794bil times .04 is 87 mil per day,all these countries loaning all this dough ,collecting all this interest,the banks i assume,there are 2 or 3 branch offices opening up every 6 months here in chicago,and then the default goes back on the citizens,who cares if it is a loan that will ultimately fail,i wont' have to suffer,let me have the interest,sign here..as a matter of fact,if you default on this one..we will give you a bigger one
 
U.S.A. cover the IMF with 17.72% of the total amount

So it's not correct to say "USA to bail out Italy"

Anyway the CDS emitted by US banks and subcribed by European Banks to ensure the risks of default in Italy would cause the default of Goldman Sachs, Morgan Stanley, JP Morgan....
 
The Usa To Bailout Italy For 794 Billion

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Good. We spend that on crabgrass killer in this country. no biggie. I like the Italians. Go snookie.....:cool:
 
Quote from nutmeg:

The Usa To Bailout Italy For 794 Billion

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Good. We spend that on crabgrass killer in this country. no biggie. I like the Italians. Go snookie.....:cool:
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Hell to the Yeah!
 

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the euro is too big to fail. simply put, the world needs the euro and there is no way to let it go. too bad for the club med (southern) countries that have their sluggish economies pegged to a currency that is not suitable for their reality.

it looks like these countries will eventually become main tourist/retirement destinations for the working classes of the north of europe, as their productive industries became less and less attractive due to lack of competitiveness. to some degree, this is what has happened in spain, portugal, italy and greece since they joined the euro. i believe this is the final stage of the assassination of their productive industry. there has been much talk by the local elites about this and it is now widely accepted that, in the future, they'll have to redirect their economies to the service area and more specifically to the tourism and related activities industry.

as for the bail outs, it looks like it is part of a plan to convince the leaders and public opinion of the southern countries to let go their budgetary sovereignty, so they can have their irrelevant economies insulated from external shocks. fact is, in the end these countries might prefer to live under the ECB/berlin umbrella rather than having to deal the markets as they are aware if their inability to run a productive and efficient economy.
 
Quote from Debaser82:

I believe Europe is the biggest contributor to the IMF. So in a way we are bailing out ourselves.
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I'm pretty sure the US and Japan are the largest contributors to the IMF.
 
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