IMF drawing up £517bn package to save Italy, Spain and the euro

The Telegraph ^ | 11/27/2011 | Robert Winnett

[Mariner]

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.

[GeronL]

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

[Vince Ferrer]

Apparently this rumor has already been denied.

[OldArmy52]

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.

[samadams2000]

Why metaphorically?

[jpsb]

"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?

[rbg81]

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.

[rdl6989]

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

[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.

[PGalt]

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

[BlackVeil]

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

[LZ_Bayonet]

"Socialize the losses, Privatize the gains."

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

[Gene Eric]

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

[PGR88]

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.

[Wisconsinlady]

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.

[AlmaKing]

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

[GeronL]

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

[GeronL]

International Pawn Shop Economics

[sheana]

It is actually right at 17%

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

[Tzimisce]

Pay your taxes.

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