ECB Drops the Ball
Still reeling that the ECB didn't do more. Reeling that they didn't understand that the sovereigns need help in return for the austerity they have to administer to their budgets.
Yes, these poorer countries like Italy and Spain have spent too much, have profligate welfare states and have let others pay for their errant ways, but if they are going to continue their belt tightening austerity ways they need to know there is a backstop. They need to know that there is a rescue or else it isn't worth it and they will just risk going under....201 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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