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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (10022)	3/27/2009 1:00:49 PM
From: DuckTapeSunroof	Read Replies (2) \| Respond to of 103300

Sorry... didn't think I needed to cross-post all that to you, (since I was posting it directly to Bald Eagle and I saw that he was posting to you), I guess I just figured that your had seen it. The 'long and the short of it' (since Baldie got be to get off my ass and look it up) is that SEVERAL of Czech Republic's immediate neighbors have already received bail-out funding from that (initial) 50 Billion Euro European bailout appropriation (Hungary, Poland, etc.), some more European money has gone to the newest tier of members, (and also a separate source of funding - IMF), Romania, Bulgaria... IMF to Ukraine, etc. Many are still in severe straits (or will be before the year is out - including perhaps Czech Republic, where the gvt. as just fallen) as the continent has not bottomed out yet economically. Austrian banks (Austria... just six months ago reputed to be the most solid of the solid in Eastern Europe), for one example, are reputed to have loaned several times Austria's GNP to other Eastern European nations --- and these loans are mostly denominated in Euros or other hard currencies (like the Swissie), yet the local currencies and the local economies have collapsed... making it highly unlikely that these loans will ever be paid back at anything approaching par.... So, the crisis in Eastern Europe appears to be a 'moving target' still, and moving very FAST, and I would not try to draw any 'hard and fast' conclusions about 'who is in good shape, and who is in bad shape' until, at least, the end of this year. It is true though (as Bald Eagle said) that the Czech Republic has NOT requested any money from the IMF. (The amount of subsidies and special currency drawing rights and such stuff that is going on inter European Union though is a heck of a lot more difficult to decipher... at least, it seems that way to me, sitting here on the other side of the pond. :-)