Monday, October 17, 2011

EU Rescue - $3 Trillion Price Tag

That would give for sure a sticker shock to EU Politicians. But that is what Bloomberg says EU would need to save itself and the world economy. I think today Bloomberg News has more credibility than EU. This would mean anything less than this figure would disappoint the market. Chances are that EU is very unlikely to accept such a large figure, especially when USA with EU keeps rejecting BRIC plan of shoring IMF. Rejection of BRIC plan to beef up IMF is nothing but a power play, it is a reflection of West's Colonial hangover. Unfortunately all this means more pains along the line even if American Economy is holding up.

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