The bail outs are coming thick and fast now. Greece is about to request its third in a row. Saying they just want to go a little slower with hitting their targets means they are asking for more money on easier terms. It is yet another loan request. It’s interesting that the junior partners in the Coalition, Pasok, do not ant any places in the Cabinet. It does not sound like a close and long lasting coalition relationship.
Meanwhile Spain may now formally request a banking bail out, which in turn means a state bail out given the way the state is expected to stand behind the banks. Cyprus also needs help. Isn’t it time the bail out fund got busy raising serious money? That too will all be borrowed. The politicians as always are good at thinking of many ways of spending bail out money, but less good at working out who pays the bills.