€500 billion plus bailouts

[TheNovice]

thats the sum (give or take) of the eurozone bailout loans to Ireland, Portugal, Greece and Spain. Where did all this money come from? Are these countries even more beholden to Germany.

[mushroom25]

it would be rather ironic if they were beholden to germany - what would hitler have made of it? here's a berlin administration achieving what he couldn't, without 5 years of very expensive armed conflict.

[TheNovice]

still trying to work out where the money comes from, I thought the eurozone was potless (with one exception), why can't this money be used to ease the austerity not help banks who created the shambles. I also thought borrowing more to clear existing debt was a policy that is frowned on (unless your Gordon Brown or Ed Balls). Thank God we're not in this, we might be in a mess but at least we're getting ourselves out of it and when we are out of it we'll owe no-one.

[anotheoldgit]

Spain has successfully requested a loan of £80bn from eurozone funds to help shore up its struggling banks.

http://www.bbc.co.uk/...world-europe-18384291

Who baled out the failed bank of Scotland?

THE BRITISH TAXPAYER??????????????

[Brenden]

I thought we were not going to entertain banks being bailed out by the IMF- I know we are not in the euro but it is still going to cost us money.

[TheNovice]

this isn't an IMF loan, it's Eurozone so (thankfully) doesn't cost the UK anything, but it seems different rules apply.

[emmie]

perhaps they just print more of the stuff, wish they would pass some over this way..

[jno]

they're loans and at a high interest rate - they make money for the lender.

[emmie]

Brenden, it always costs us money.

[TheNovice]

jno - didn't think they was allowed to do that either, inflationary.

[starone]

And what happens if they can't pay it back? Do the lenders send the heavy brigade in to make sure?

[TheNovice]

heavy brigade? Do you mean the Germans......1939 all over again!!!!

[douglas9401]

The whole Euro thing's been a farce from the start but politicians and their "experts" being what they are there'll be no admission of getting it wrong while those responsible are still in public life.
We'll have to wait for a new broom and meantime keep paying into the money pit.

[TTG]

How was the Euro idea "sold" to each countries population. So long ago, the reasons escape me. How did they think everyone would benefit?