Although Greece’s output is just three percent of the European Union economy, its financial collapse roiled continental markets and required an international bailout package. Imagine what would happen to U.S. markets if California, which is 17 percent of the national economy, experienced a Greek-style implosion. Far-fetched? Consider the similarities.
Post Tagged with: "European Union"
May 14, 2010 04:20
Bank of England says Europe neeeds to become one nation – can you say global government?
Mervyn King, Governor of the Bank of England, fears that America shares many of the same fiscal problems currently haunting Europe. He also believes that European Union must become a federalised fiscal union (in other words with central power to tax and spend) if it is to survive.
May 6, 2010 04:27
U.S. taxpayers are helping finance Greek bailout
by Sen. Jim DeMint
G-20 Finance Ministers and Central Bank Governors asked the United States, the IMF’s largest contributor, for a whopping $108 billion to rescue bankers around the world and the Obama Administration quickly obliged. The Democrat Congress, aided by a few Republicans, used a war spending bill to send bailout money to an international fund that’s partially-controlled by our enemies.
April 23, 2010 07:06
Greece’s spiraling debt shakes Europe – wait until they wake up to the US debt!
Moody’s downgrades credit rating – Portugal looking to be the next major economy to fall into the debt abyss, and then?
March 6, 2010 11:54
Who’s Behind the Financial Crisis?
The New York Times is quoting a spokesman for George Soros as saying that the well-known hedge fund operator is guilty of no wrong-doing in connection with the financial upheaval currently affecting Greece and Europe as a whole.
