Here Comes The Cavalry: Will US Taxpayers Be Footing The Bill For The Greek Bailout?

And now, we kill the dollar.

More headlines from the Greek Prime Minister:

• EVADES FIRM ANSWER ON POSSIBLE IMF SUPPORT
• CLEAR TARGET TO CUT DEFICIT BY 4%/GDP IN 2010 - [this is actually very funny]
• TODAY'S DECISION CONCERNS ALL EU COUNTRIES
• TODAY'S POLITICAL DECISION IMPORTANT
• GREEK GOVT TO TAKE ADDITIONAL MEASURES IF NEEDED
• GREECE IS RESPONSIBLE FOR ITS LOSS OF CREDIBILITY
• GREECE WILL DO WHATEVER NEEDED TO REMEDY DEFICIT
• GREEK GOVT TO SUCCEED IN ALL REFORMS, MEASURES
• EU LEADERS ACKNOWLEDGED GREEK GOVT EFFORTS
• EU SENT CLEAR SUPPORT MESSAGE FOR GREECE ECON
• MESSAGE IS ONE OF SUPPORT FOR GREEK ECONOMY
• EU HAS SENT OUT A CLEAR MESSAGE TO THE MARKETS
• EU DECIDED ON COORDINATED ACTION IF NEEDED

Comments

[chindit13]

Whether it's via the IMF or piggybacking off of Germany's debt rating, Greece is going to get bailed.  After the fact, armed with the knowledge that even a small country is TBTF, Papandreou has absolutely no incentive whatsoever to alter his administration's or country's behavior in any way, shape, or form.  He'll ignore the IMF, and lead his own people's rallies when they take to the street to protest IMF austerity measures.  Populism on some else' dime.

Maastricht rules are for chumps.  In the end, responsibility rests with those who have the most to lose, which is Phd-Candidate-in-Perpetuity Ben Bernanke.

[Tom123456]

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