Once again, the problems in the European Union are popping up everywhere. The European markets are trading sharply lower today as yields on Italian debt surge over 6.0 percent. This is telling us that the market place does not believe that this bailout plan will work. Greece is also throwing a monkey wrench in the plans by voting again to approve the austerity measures, this stuff cannot be made up. This vote by the Greeks puts the French and the Germans in a very strange position. This feels like an unraveling of the European Union as we know it.
Here is the way I see it anc correct me if I am wrong. If Greece does infact shut down tonight then that will be good news basically maybe not for Greece but for the world. Why you ask? Because they haven’t even taken the first bailout money let alone the second and if they are shut down then there will be no bailout money shelled out to them. Watch the market surge back. JMHO
I have a feeling the bailout is not going to work. Obviously there is a reason why Greece cannot accept the bailout package i.e. they don’t want themselves to be enslaved by the terms of the package. In addition, perhaps the bailout itself is a scam in a way that it wouldn’t really work.