Thread: Irish head toward bailout; Portugal next in line?

Somehow, I've got doubts the world economy is improving.

Print Story: Irish head toward bailout; Portugal next in line? - Yahoo! News
Irish head toward bailout; Portugal next in line?

Thu Nov 18, 12:43 pm ET
DUBLIN – Ireland edged toward taking a bailout loan from the European Union to bolster its debt-crippled banks — but the prospect offered little reassurance that other corners of Europe could cope with their own crushing levels of government debt.

After Greece and likely Ireland, analysts say Portugal may be the next country in the 16-nation eurozone to need assistance. They suggest the crisis is now being driven less by irrational fears than by a growing realization that debts are too big for vulnerable nations to refinance, never mind pay back.

Experts from the European Commission, European Central Bank and International Monetary Fund descended Thursday on Dublin to explore the scope and terms of a bailout. European officials agreed to send them at a summit Tuesday after weeks of Irish denials that they required any emergency aid. The talks were to run into next week.


.....

Soon to be an IMF slave state like much of Europe

Dear Jim,
Why is Ireland taking a massive loan it claims it doesn’t want or need? Is the game plan here to get the European periphery fully on the hook to the ECB and the IMF, the way the IMF has repeatedly done in Africa? Is the idea to make sure no one ever entertains the thought of leaving the Euro or the EU, and that the paths to exit are blocked via indenture?
Regards,
CIGA Anon

Dear CIGA Anon,
Contrary to the general thinking, you are correct.
Regards,
Jim

Jim’s Mailbox : Welcome To Jim Sinclair's MineSet