Monday, May 3, 2010

Merkel: Germany to give $29.6B to Greece in all

As part of wider bailout is the key phrase. How much of the $145 billion comes from the IMF? Remember, the IMF is largely controlled and funded by the US. In other words, it is funded by the US taxpayer. This bill, likely understated, is just Greece. What about the other weak nations that are certain to need funds?

Chancellor Angela Merkel's Cabinet agreed Monday on a bill to give Greece euro22.4 billion ($29.6 billion) over three years as part of a wider bailout, as the German government realized that letting Greece go bankrupt could send the euro into a tailspin and hurt Germany's own economy.

Source: finance.yahoo.com

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