Comments on: Three questions the Greek debt summit must answer

By: eachtohisown

eachtohisown — Thu, 21 Jul 2011 19:11:46 +0000

I’m not sure if it is simply a case of it’s not being reported but:

While keeping Greece et al going might allow the economies to begin to improve, what is really happening to ensure the Treasuries get an income. If pseudo-cash economies continue, there will be a mixture of hopelessness and greed.

Are luxury taxes in place? Or just VAT?

By: NukerDoggie

NukerDoggie — Thu, 21 Jul 2011 15:04:38 +0000

Investors are in panic-attack mode. Calming them won’t be easy. Any ‘schmooze’ by the summit participants will be quickly seen through, and panic attacks will resume.

An even bigger concern is the French and German public – Merkel rightly has kept Germany a distance from being too committed to Greece and other bailouts for fear of domestic public volatility. After she has now caved, what will the French and German public do???

They may quickly sense their ‘people power’ in this situation and riot to put pressure on their governments to back off any summit committments. That would spell renewed disaster for Greece et al.

Meltdown is a distinct possibility – the summit may actually accelerate a meltdown.

By: breezinthru

breezinthru — Thu, 21 Jul 2011 12:50:48 +0000

The ECB has played its cards too well. The banking sector should be held partly responsible for this untenable situation because they provided risky loans to sovereign borrowers who could not come close to repaying those loans…

yet their will be no bank tax.