Wednesday, December 1, 2010

When did we join the European Union?

Look, I feel as bad the next guy for our European brothers.  I mean those poor Greeks are being forced to raise their retirement age to a whopping sixty-three years old.  But Spain, Italy, Greece, Portugal, et al, spent their way in to their current financial mess and I can't see where we in the United States are in any position to bail them out.  Unfortunately it looks that we may do just that:

USA to bail out EU?

Looks like it,

US Ready to Back Bigger EU Stability Fund: Official

The United States would be ready to support the extension of the European Financial Stability Facility via an extra commitment of money from the International Monetary Fund, a U.S. official told Reuters on Wednesday.
There are contradictory reports regarding the extent of the proposed bailout, but

U.S. Treasurys’ prices fell and the euro strengthened against the dollar on Wednesday after the news that the United States would be prepared to support an enlarged EFSF.
Wonderful to know that we're so flush we can afford to spread our wealth around.

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