European package won’t cure countries’ insolvency

By Prieur du Plessis, on May 11th, 2010 posted in: Economy, Europe, Investment

One comment so far

Print This Post

We have a $700 billion to $1 trillion rescue package being thrown at countries “which are patently insolvent”, David Roche from Independent Strategy said in a CNBC interview. He added that EU leaders have not addressed how the austerity measures are going to be enabled to help these countries become solvent again.

Source: CNBC, May 10, 2010.

Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail.

1 comment to European package won’t cure countries’ insolvency

Abhishek
May 11, 2010 at 5:45 pm
Well that has been the method followed by the USA.We had hundreds of billions thrown at the financial sector but when it comes to reforms the lobbyist army unleashed by the financial sector is blocking it. I don’t think the Greek unions are going to accept much austerity like the financial sector in the US.

Leave a Reply Cancel reply

ECRI Leading Indicator: Turning for the better?
The latest smoothed annualized growth rate of the ECRI Weekly Leading Indicator in the week ended 22 January improved from… »
Roach on U.S. economy, Fed policy, China, Europe
Stephen Roach, non-executive chairman of Morgan Stanley Asia, discusses the U.S. economy, Federal Reserve monetary policy,… »
Prieur’s Readings (Jan 30, 2012)
As part of my daily routine, I publish all my reading (including snippets from other well-known commentators) in an Internet… »
How best to play the China story
Helen Zhu, chief China equity strategist of Goldman Sachs, believes the mainland will see policy normalization in 2012. In… »
European choices
The article below is a guest contribution by Cees Bruggemans, Chief Economist of First National Bank. Last week, the Euro area… »