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Old 11-24-2010, 09:29 AM
Ashendant Ashendant is offline

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Join Date: Aug 2009
Location: Portugal
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Originally Posted by Bolvar View Post
Ireland is bankrupt and asking for a bailout.

They say Portugal is next.

Who is doing the bailing out? Are any of the EU nations really solvent enough to absorb this?
... your knowledge of the European countries is very very low, Ireland is not bankrupt in fact it has much money, the problem is that they have to sell t banks that failed and that incurs debt, and when paying their old debts the markets are asking for irrational interest rates, if it weren't for those stupidly high interest rates based on irrational fears Ireland would not need any type of bailout.

Portugal is next because the markets are irrationally afraid and the rating agencies want to get richer

In fact we have a 750 billion euros (1 trillion dollars) ready to pay any eurozone country that needs a bailout, with a extra 110 billion euros for greece
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