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Germany reconsidering being part of E.U.
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WYDave
Posted 9/29/2011 09:16 (#1983650 - in reply to #1983408)
Subject: RE: WYDAVE, question???


Wyoming

I've seen one analysis that reckoned "...at least 2 trillion Euros...." and said that it is difficult to put a cap on the number.

They don't have it. Not just the Germans, but if you take the solvent northern EU countries, rob them blind and use all that money to prop up the Med EU countries, it still isn't enough. The budget deficits in Greece, Italy, Spain, et al are just too big, too systemic, and the deficits in some other smaller countries (eg, Belgium) aren't great either.

Another aspect of the problem is that the debt maturity schedules pack a lot of debt coming due into the next two years between Greece and Italy. 

The vote passed overwhelmingly. The reason given for the large "Ja" vote is being given in the German press as stemming from the provision in the bill that insures all future bailouts must be voted on as well - no more unilateral jobs by the chancellor and finance minister. 

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