They make it sound like it’s free ‘gift’ money. But after they borrow the 500-billion from the banks....there’s interest involved, and it’ll take more than a decade to pay this back. Figure with the interest involved....it’s a trillion-plus Euro.
Probably a lot of art and cultural projects will suck up a quarter of this funding.
So, mostly for the PIGS, Portugal, Italy, Greece and Spain? Sure Germany will pay out the most, but for other members, the price is still high. With the current global economy, I suspect many would just as well let the EU die as mortgage their future for the bankrupt PIGS.