Quote:
Originally Posted by Jesus H Christ
It's not just people, but whole countries. Here's a fact, Germany, UK, and the US contributed the bulk of the funds to the IMF. The IMF is like a huge Insurance company that helps financially troubled countries.
Anyway, there's a very high probability the IMF will have to bailout Italy's upcoming debt payment (via the ECB) with extra money to cover the expenses to run the country for an additional three months. The kicker? - Italy does not have a solution to their debt problem or taking measures to correct it. So, they'll need even more money in the near future, but the money given by the IMF is 38% of the total funds the IMF has.
The outrage? Italy has only contributed 3% to this relief fund, as it's return is 36% of the total fund. In short, free money as they'll never be able to pay it back. |
This is really outrages but the EU has at this moment no other option to stick it all together. No one knows what will eventually happens but it can be the beginning of a worldwide economic collapse.
In my home country (NL) they are already talking about the Neuro a situation were all the weak EU countries are being kicked out.
Time will tell what will eventually happen.