PIIGS Kept Flying With 750billion Euro Package
Hey we are only exposed to 15bn euros worth of liability…
Which puts the petty squabbles over £6bn savings during the Prime Minister debates in the shade.
Ok, it’s not our currency but our biggest trading partner i.e. the Eurozone should be sitting a little more comfortably after last week’s squeeky bum rollercoaster. The 16 members of the single currency bloc will have access to 440bn euros of loan guarantees and 60bn euros of emergency European Commission funding.
And the International Monetary Fund (IMF) will also contribute up to 250bn euros. A grand total of 750 billion euros (£650 billion) to fall back on.
Just the structural deficits to deal with now then.









