Official: EU banks have to raise $140 billion

Italy’s outstanding debt at 120 percent of gross domestic product can’t be blamed on speculators, Merkel told a group of women in her Christian Democratic Union today. Markets demand higher interest rates on Italian bonds because the level of such debt is “seen very critically,” she said.

“We want to and we must defend the euro -- and we will -- but not to the extent that we forget what the source of the crisis is,” Merkel said in a speech in the western German city of Wiesbaden before heading to Brussels to tackle the crisis. [/B]
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These words came out of the mouth of merkel - can you believe it
 
Quote from sheda:

These words came out of the mouth of merkel - can you believe it
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did u see the photo of her with sarkozy, she looks like she's being threatened, makes germany look docile
 
Quote from sheda:

These words came out of the mouth of merkel - can you believe it
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Disunited States of Europe :D

Maybe Merkel has just learned how much german banks are in deep $hit and how much money germany will have to spend to bail them out: better divert attention to other targets :D
 
Oct. 22, 2011. Eurozone finance ministers said Saturday they have agreed that banks should accept substantially bigger losses on their Greek bonds, with a new report suggesting that writedowns of up to 60 percent may be necessary.

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21% = 70%

60% = penny

:D
 
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