Monday, May 10, 2010

The European Solution

There is great news coming out of Europe this morning. The world has been anxious about Greece because they owe so much money they may default on repayments of this debt. Well, other countries in Europe has come to their aid as of this weekend. The Euro countries will create a fund of billions of dollars (Euros) to back up Greece and other countries like Spain, Portugal, and Italy who owe so much that default on their debt may become a problem. Sounds good, doesn't it. Don't look too deeply into this great news, however. If you happen to wonder where the money being used to back this debt is coming from, look no further. They are borrowing it.

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