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Tuesday, June 26, 2012

Leaders fiddle while Europe burns - another nation requests 'Bailout', more bank failures imminent!

Blogman's Notes:  20th summit in 20 months and everyone knows that it will accomplish exactly what the previous 19 did - NOTHING, NADA, ZILCH, ZERO...

  • Q. What is the definition of Insanity?
  • A. Do the same thing over and over again and expect a different result each time!
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(From L) Spanish Prime Minister Mariano Rajoy, French President Francois Hollande, Italian Prime Minister Mario Monti and German Chancellor Angela Merkel attend a meeting at the Villa Madama in Rome June 22, 2012. REUTERS/Lionel Bonaventure/Pool
(Reuters) - Finance chiefs of the euro zone's four biggest economies will hold last-minute talks in Paris on Tuesday evening to try to narrow differences on the currency area's future after Cyprus became the fifth country to request a bailout. Ministers from Germany, France, Italy and Spain will discuss how to manage the crisis in the short term and proposals for closer long-term fiscal and banking integration to prepare for a European Union summit starting on Thursday.

Financial markets are on edge and international pressure for decisive action is rising but the summit, the 20th since the bloc's debt problems began in early 2010, is not expected to produce a lasting solution to the crisis. Read More

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