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To: Haim R. Branisteanu who wrote (72976)	3/20/2010 10:14:04 AM
From: Haim R. Branisteanu	Respond to of 74559

EU Ready To Give Urgent Assistance To Greece: Official BERLIN (AFP)--The European Union is ready to provide urgent help to debt-ridden Greece, a report said Saturday, putting new pressure on Germany, which has been seen to drag its feet on the country's financial crisis. "The European Union has the means [to put in place] rapid and coordinated assistance," the European Union's financial affairs chief, Olli Rehn, was quoted as saying in a report to be published Sunday by the Welt an Sonntag newspaper. "The European Commission is ready to make a concrete proposal in this sense. The financial aid could come into effect quickly but would be linked to drastic obligations" on Greece, he added, according to excerpts. EU Commission chief Jose Manuel Barroso on Friday urged member states to approve the creation of a financial aid mechanism for Greece to use if necessary. Barroso was making an implicit appeal to German Chancellor Angela Merkel, who has been reticent to offer help, to approve a mechanism for offering aid to Athens when the 27 heads of state and government meet in Brussels Thursday and Friday. The help Barroso has in mind would be "a system of coordinated bilateral loans," and as such would be compatible with EU law, which bans bailout loans to any of the 16 nations, including Greece, that use the euro currency. Greek Prime Minister George Papandreou has urged the EU to help his country borrow more cheaply when they meet next week. Under pressure from the EU, Athens has announced swingeing cuts to fix its public finances--triggering strikes and violent protests on the streets of Athens.

To: Haim R. Branisteanu who wrote (72976)	3/21/2010 5:20:54 AM
From: elmatador	Read Replies (1) \| Respond to of 74559

US economy does not need the Big as it returns to natural size. It is Quixotic to try to avoid failure of the the Big 3 or Big investment banks. Biggies must shrink.

To: Haim R. Branisteanu who wrote (72976)	3/21/2010 6:03:43 PM
From: Maurice Winn	2 Recommendations Read Replies (1) \| Respond to of 74559

"Too big to fail". If the government wants to keep some financial institution functioning, they can simply say to depositors, "There is no need to panic. We will be taking over the bank when the greedy shareholders have been wiped out, the foolish creditors have done their dough, and the overpaid executives have left to find work more suited to their talents, such as cleaning out drains, or collecting rubbish from the footpaths." Then, simply wait until the creditors have thrown in the towel and are willing to accept recapitalisation with government funds at 1c on the dollar. Heck, let's be generous and make it 2c on the dollar. I don't understand the reason for handing over umpty$billion to shareholders and creditors. That's my 2c worth. Mqurice