Tuesday, August 20, 2013

3rd bailout for Greece

"There will have to be another programme in Greece," Wolfgang Schaeuble, Germany's Finance Minister.

Of course Greece "needs" a 3rd bailout. Who in the right mind will believe that the problem of debt can be solved by more spending and debt? But why admit this right before the German election in a few weeks' time? If anything, the Germans will be even more pissed with Merkel.

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