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26-Oct-11 World View -- Wednesday's much-hyped EU Finance Ministers' meeting is canceled

Thailand's PM Yingluck concedes that Bangkok will be flooded

** 26-Oct-11 World View -- Wednesday's much-hyped EU Finance Ministers' meeting is canceled
** http://www.generationaldynamics.com/cgi ... 26#e111026

Contents:
Wednesday's much-hyped EU Finance Ministers' meeting is canceled
Greeks panic and withdraw money from banks
Berlusconi's government in Italy close to collapse
Algeria imposes censorship to prevent an 'Arab Spring'
Thailand's PM Yingluck concedes that Bangkok will be flooded
Russia asks Security Council to end Libya's no-fly zone


Keys:
Generational Dynamics, Eurozone, Greece, Silvio Berlusconi,
Italy, Algeria, Arab Spring, Thailand, Yingluck Shinawatra,
Bangkok, Russia, Security Council, Libya, MANPADS

Well, it sounds like European leaders have this thing all worked out except for a couple of small items.

Italy and Spain need to balance their budgets but nobody knows how and the voters in Italy and Spain may insist on a say in the matter.

Europe will not print Euros to solve the problem like Ben Bernanke did in the U.S., so, they are going to find private investors to put up money and add it to ( leverage ) the 440 Billion Euros of tax payer money the European governments are already authorized to put up, but the European leaders have not obtained money from any investors and they do not know how much the investors are going to put up and under what terms, but they are hoping for a total of between 1 Trillion and 2 Trillion when they get investors to add to tax payer monies.

The Greek bond holders need to accept losses of between 50% and 60% of the face value of bonds, and, this is important, the bond holders need to also waive collecting the insurance they paid for to protect the bond holders from default.

The terms offered to the bond holders must be acceptable to the private investors in the rescue fund once those private investors are located.

But other than those small details agreement appears near.