The Spanish banks would be helped with $125 billion kitty but the whole road map is still not there. The remedy for a long time existing sickness can not be instant but it will work as a pain reliever. I think the Europe’s problem can only be dealt with in this piecemeal fashion and by pushing away the time of total collapse of all together. The world markets have rejoiced but will have a rethink.
In fact the big two (China and USA) should come forward with a greater role to play in helping the Europe’s weaker economies. If the integration of the world economy was so forcefully advocated by USA and was taken advantage of by China in no small way, it is their responsibility also to share the burden. If the finer point is to let the Germany lose its goodwill with its sibling economies then do some thing then of course I am no body to comment, it would be deeper game.
I have always wondered, right since the sub-prime crisis in USA, that what the pundits have been doing. Where is the use of super-computers about drawing scenarios that may possibly emerge on the financial and economic path that the world is treading on. Why its only surmising that goes on or there is an attempt at keeping the people at large at guessing. Why there is no attempt at simplifying the complicated financial arrangements and having a unified policy for all to follow? Is UN a body only to deal with political tensions ? Will not the financial tangles change the political equations ?
We are all too small to try and find an answer but surely when the punishments will be doled out everyone of us will be forced to take it.