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IMF drawing up 517bn package to save Italy, Spain and the euro
The Telegraph ^ | 11/27/2011 | Robert Winnett

Posted on 11/27/2011 8:23:04 PM PST by Mariner

The International Monetary Fund is being lined up potentially to help Italy and Spain amid growing fears that a European rescue scheme will not be able to prop up the countries, it emerged last night.

Reports in Italy suggested that the IMF is drawing up plans for a €600 billion (£517 billion) assistance package for the country. Spain may be offered access to IMF credit, rather than a rescue package, to avoid it being “picked off” by the markets in the coming weeks.

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Foreign Affairs; Front Page News
KEYWORDS: hestopresto; imf; magicalthinking; taxes; thattrickneverworks; thistimeforsure; watchmepullarabbit
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The US Treasury (Taxpayer) on the hook for 45% of a $800bil bailout for Italy and Spain.

Time for trials and hangings on the Capitol Steps.

Metaphorically, of course.

1 posted on 11/27/2011 8:23:11 PM PST by Mariner
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To: Mariner

By “save” they mean prop it up just a bit longer.


2 posted on 11/27/2011 8:24:23 PM PST by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: Mariner

Apparently this rumor has already been denied.


3 posted on 11/27/2011 8:25:54 PM PST by Vince Ferrer
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To: Mariner

The USA taxpayers take another financial bullet between the eyes, courtesy of its “leaders”.

Be nice if we had leaders who cared as much about the taxpayers as they do their big banker and politician buddies.

Corrupt is as corrupt does.

We’d have better leadership in the USA if we canned elections in favor of a lottery.


4 posted on 11/27/2011 8:27:18 PM PST by OldArmy52 (Obama, the most corrupt and incompetent President since Carter.)
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To: Mariner

Why metaphorically?


5 posted on 11/27/2011 8:31:10 PM PST by samadams2000 (Someone important make......The Call!)
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To: Mariner
"The US Treasury (Taxpayer) on the hook for 45% of a $800bil bailout for Italy and Spain."

I wonder if China knows what we are doing with their money?

6 posted on 11/27/2011 8:31:26 PM PST by jpsb
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To: GeronL

By “save” they mean prop it up just a bit longer.


Just keep the machine running with bailing wire and duct tape until the 2012 election. The all H@ll will break loose.


7 posted on 11/27/2011 8:31:53 PM PST by rbg81
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To: Mariner

Are you kidding? We can’t even pay our own bills!


8 posted on 11/27/2011 8:35:46 PM PST by rdl6989 (January 20, 2013 The end of an error.)
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To: Mariner

This is like paying a gamblers debts, it may solve the problem for a couple of months but all you have done is manage to change who they will soon be in debt to.


9 posted on 11/27/2011 8:35:55 PM PST by LukeL (Barack Obama: Jimmy Carter 2 Electric Boogaloo)
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To: Mariner

DEFUND socialist collectives, FOREIGN and domestic. Let them collapse under their own weight. DEFUND the IMF.


10 posted on 11/27/2011 8:37:23 PM PST by PGalt
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To: Vince Ferrer

I daresay it is inaccurate - the real figure is probably twice that amount.


11 posted on 11/27/2011 8:40:10 PM PST by BlackVeil
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To: Mariner
"Socialize the losses, Privatize the gains."

Unfortunately, under this plan, many of the eventual losses would be socialized to the US.

12 posted on 11/27/2011 8:50:44 PM PST by LZ_Bayonet ( I AM THE TEA PARTY LEADER !)
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To: Mariner

And we’ll each be compensated with a travel package... I’ll take a 10 day Italy/Spain trip for 4, business class.


13 posted on 11/27/2011 8:50:44 PM PST by Gene Eric (Save a pretzel for the gas jets.)
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To: GeronL
By “save” they mean prop it up just a bit longer.

I think predictions of the demise of the Euro are very premature. The Eurocrats have built an Empire in Brussels, and they certainly won't give up easily. Their big nukes will be having the IMF (ie. the FED) or the EU Central Bank buy up bad debt in a similar "quantitative easing."

Big Central Banks around the world also want to save the Euro, and they will line up behind the status quo. I don't know how it will all end, but we are far from collapse of the Euro.

14 posted on 11/27/2011 8:56:01 PM PST by PGR88
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To: LukeL

This is like paying a gamblers debts, it may solve the problem for a couple of months but all you have done is manage to change who they will soon be in debt to.

It is like being an enabler for a drunk or a drug addict.


15 posted on 11/27/2011 8:56:01 PM PST by Wisconsinlady (DEFUND NPR, PBS, THE TSA AND THE U.N.)
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To: Mariner

Where do you get the 45%? I see no mention of that figure in the article.


16 posted on 11/27/2011 8:57:59 PM PST by AlmaKing
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To: PGR88

It just means we all collapse together not that collapse can be avoided


17 posted on 11/27/2011 8:58:13 PM PST by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: Wisconsinlady; South40; writer33

International Pawn Shop Economics


18 posted on 11/27/2011 9:01:13 PM PST by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: AlmaKing

It is actually right at 17%

http://www.imf.org/external/np/sec/memdir/members.aspx


19 posted on 11/27/2011 9:35:18 PM PST by sheana
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To: Mariner

Pay your taxes.

Lazy Spanish/Italians who hate you really need the money. :)


20 posted on 11/27/2011 11:58:28 PM PST by Tzimisce (Never forget that the American Revolution began when the British tried to disarm the colonists.)
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