As the Top of the Bailout Pops continues I will provide a useful summary of the single currency crisis so far:
Bailout received:
Portugal €78 billion
Italy N/A (yet)
Ireland € 77 billion
Greece € 164 billion (plus €88 billion ‘hair cut’)
Spain (aka SMUG as they didn’t originally succumb to the 2008 banking crisis and were quite pleased with themselves) € 76 billion
Cyprus €1.8 billion
Funds available:
EU bailout fund (officially European Financial Stability Facility) € 440 billion
Germany contributed € 211 billion and is the only country setting the terms.
WHEN will the single currency zone see it is over, they are bankrupt and that they will be owned by Germany in every way except on paper and who knows? Perhaps even on paper.
Auf Wiedersehen, pet!!
Bubbly
P.S. I found it difficult to get consistent bailout numbers so if any of you know more accurate figures please do add them in the comments.
