Just saw where the EU had gotten together a loan package of $970 billion - I need some help understanding how this actually solves any of the underlying problems.
Isn;t the entire financial crisis predicated upon countries having too much debt that they cannot possibly pay back? Greece, for example, had 100% of the GDP locke dup in debt servicing - so how is making more debt available a solution to the real problem?
is this not just postponing the inevitable - just as we in the US did with the home mortgage business (and are still doing)?
Can someone with mor efinanical savvy explain this?