“Even a €1T Firewall Wouldn’t Be Enough”

“Even a €1T Firewall Wouldn’t Be Enough”

On Friday, the Eurozone agreed to an additional €½T to contain the sovereign debt crisis; a fund created out of thin air with no assets or gold backing it up, except an obligation by the taxpayer to accept the liabilities.

The only problem is, in the words of the German journal Die Tageszeitung, even a €1T bailout is not enough; a sum so big, it would take 2,700 years to repay at the rate of €1M per day.

Leave a Comment