What are the debts that the E U has taken on in bailing out Greece, Ireland, Portugal and possibly Spain ? The IMF also seems to have subscribed to these "Bailouts" !!! What in fact is the possible loss the IMF could suffer if any "Bailout" country goes to the wall ?
To put it more bluntly, how much by EU country, would the cost be if Greece declared itself "Bankrupt" and wanted to readopt the drachma as its new currency to replace the EURO?
If the EU or the IMF makes "Finance" available and in spite this a country cannot pay its debts, Greece for example, who or which countries, will suffer the loss of the "Finance" provided to Greece, if in spite of the "temporary" finance, Greece does become bankrupt ?
The "Rescue Fund" which the EU has set up, is in fact composed of loans by participating countries. If Greece has obtained a part of these loans, and if Greece then defaults, the loss will then be borne by the participating countries !!!
For electors who are not Financial Wizzards, all these questions are a complete mystery. The national press and politicians should explain the risks invoved and their effect on future national policies. Taxpayers have a right to know !!!
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