Sunday, October 30, 2011

Here it comes... Europe begging the US for a bailout

Now that the Hopium of a Greek bailout is over, and the reality that the troika accomplished very little to save the Euro and Euro Zone, the next little piig(gie) is going beyond the ECB for help, and instead is looking for the US to provide the bailout.

Now it is Portugal's turn. Reuters reports that "Portugal asked Mexico on Saturday to tell fellow G20 members next week that the United States should offer "financial help" to resolve the euro zone sovereign debt crisis, describing it as a "systemic and global" problem, a Portuguese government source said." Of course, the "US" is a clear proxy for "everyone else" – Reuters via Zerohedge
Hey... we knew this was coming.  Now the question will be, will the Congress allow 2008 to comes again, and have taxpayers bailout European banks AND nations, or will the Fed be the one to step on, assuring an inflationary landscape that will create more turmoil than just Occupy Wall Street.

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