Targeted aid for euro zone countries which hit major trouble

Bundesbank President Axel Weber has held out the possibility of targeted aid for euro zone countries which hit major trouble.

Weber said he could envisage some help for states in financial difficulty but that it would take place only in extraordinary circumstances and with strict conditions attached. “Issuing a blank cheque would definitely be wrong,” he said. “If, in an escalation of the situation, targeted aid for individual member states were unavoidable in light of an extraordinary emergency situation, then this would have to be tied to strict demands and conditions,” he told Die Welt.

fxcentre.com/news.asp?2368866

Mmmmm, “strict conditions”… mmmmm.

Increase our corporate tax rate and give up the rest of our fishing rights. May as well say bendover. 8-

More than likely we will be told to get the deficit below 5% next year and below 3% by 2011.

Yup, although I think it will be 12+% this year, so we will be told to halve it next year and halve again the year after.

I’m sure this sort of bailout would have to be brought in via a treaty… hmm, are there any treaties coming up?

Would be interesting, wouldn’t it? An amendment to Nice - we vote on the amended treaty, everyone else votes on the amendment…

Looks as if the Jerries have said Nein to the notion of common Eurobonds. Not that I blame them. I would not fancy shouldering the financial additional burden of other reckless indigant countries on the periphery of Europe.

businessworld.ie/bworld/rank … ;a=2368866

But we’d only need one or two, three tops…

gets coat