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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (74249)	5/16/2011 4:57:13 PM
From: KyrosL	Read Replies (2) \| Respond to of 219070

Hi Haim. My comment was tongue in cheek. I too disagree with the parade of famous accused before the media by US police before they are tried. On the other hand from the information coming out it appears that DSK may be a repeat sexual offender, so at this point I cannot sympathize with him.

To: Haim R. Branisteanu who wrote (74249)	5/16/2011 6:04:18 PM
From: 2MAR$	Respond to of 219070

totally agree on all counts ...A Greek Tragedy Developing , But Europe will Muddle Thru finance.yahoo.com The European bailout parade continued Monday as EU and IMF officials agreed to a 78 billion euro ($116 billion) package for Portugal. The plan must still be approved by all EU members and Portugal's Parliament but policymakers were apparently undeterred by the scandal engulfing IMF President Dominique Strauss-Kahn, a.k.a. "Mr. Bailout." Portugal's lame duck Prime Minister said the deal requires Portugal to lower its budget deficit from a target of 5.9% of GDP this year to 4.5% in 2012 on its way to the EU's mandated 3% in 2013, Der Spiegel reports. But if the recent experience in Greece is any indication, the accompanying austerity measures will cause tax receipts to drop and exacerbate the deficit rather than help alleviate it. (See: Europe's Debt Crisis Worsens: Is Austerity All It's Cracked Up to Be?) "We're in for a period of bouts of contagion and volatility" in the EU, says Michael Spence, a Nobel-Prize winning economist and NYU Stern School Professor. "This could be hard enough that it causes a breakup [of the EU] but I don't still think that's the best guess." The Europeans "will find a way to muddle through," the economist predicts. "It probably won't be pretty [but] the consequences of giving up on this enterprise are pretty dramatic." That said, Spence is pretty convinced a Greek debt default is unavoidable. "There's a Greek tragedy developing," he says. "[Greece] is in a downward spiral." Indeed, no matter how many bailouts the EU-IMF use to paper over Greece (and now Portugal), there's nothing 'pretty' about what's happening in Europe.