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Old 11-24-2010, 11:06 AM
Bolvar Bolvar is offline

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Originally Posted by Ashendant View Post
... your knowledge of the European countries is very very low, Ireland is not bankrupt in fact it has much money, the problem is that they have to sell t banks that failed and that incurs debt, and when paying their old debts the markets are asking for irrational interest rates, if it weren't for those stupidly high interest rates based on irrational fears Ireland would not need any type of bailout.

Portugal is next because the markets are irrationally afraid and the rating agencies want to get richer

In fact we have a 750 billion euros (1 trillion dollars) ready to pay any eurozone country that needs a bailout, with a extra 110 billion euros for greece

http://www.channelnewsasia.com/stori...055571/1/.html
That's sort of why I was asking... I'm well aware that I don't have intimate knowledge of EU politics, and I figured this community would have educated viewpoints on the matter.

How is it interest rates are so bad there? Interest rates here in the US are absurdly low - in fact, I think the Fed is actually trying to get them to move up a bit.
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