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Subscribe to RSSSomething else the Obama administration has to see as good news: “Eurozone leaders agreed to radically restructure Spain’s €100bn bank recapitalisation plan during all-night talks at an EU summit that ended in the early hours of Friday,” the Financial Times writes. “The agreement will result in EU bailout funds eventually being injected directly into teetering Spanish financial institutions, meaning Madrid can sweep the burden of the bailouts off its sovereign books.”
Political Wire: "European leaders at a two-day summit in Brussels said they would speed up plans to create a single supervisor to oversee the euro zone's banks, and agreed on measures aimed at reducing soaring borrowing costs for Spain and Italy," the Wall Street Journal reports.
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This is a great week for Obama. As we all know, all countries today are tied together. If Europe fails, our recovery is much harder. The increased attention and support of Spain will help, at least in the short term.
Obama/Biden 2012
SeekingSanity
What people don't understand is that the US is no longer shielded from the global economy. When Europe (our #1 trading partner) goes to @!$%#, we are affected. To add to that, before the 2008 Financial Meltdown, Europe tried to be like us: quick return on investement by doing what companies like AIG were doing. We created the monster that everyone else tried to copy. So we don't only pay for the greedy bastards in this country; we also pay for the greedy bastards in other countries.
bayllie - I thought by now everyone knew we are not isolated - economically or socially. For anyone to believe we can come back from our economic devastation before Europe begins to recover is beyond belief. But, we all know many people have a difficult time with reality!
SeekingSanity
well, some people still believe that we are the offspring of Adam and Eve because when they go to the zoo, they don't see monkies turn into humans....
some people still believe that the correct history can be found only in a TX textbook
some people still believe that the rest of the world fearing us is a good thing, and trying to resolve problems peacefully first makes us a pu$$y.
I can go on but the point is that there are many people that still live in the 1800s so the fact that they don't consider Europe's huge influence on our economy doesn't surprise me.
PIGS - are still in trouble?
Portugal, Italy, Greece, and Spain (PIGS)
I am so glad to see someone realizing the problems the EU are causing!
Man how much worst can it get for you tea people Koch republicans, first the economy is improving to your dismay, then the SC rules ACA is constitutional, the majority of Americans realize your contempt vote on AG Holder is a witch hunt, your presidential candidate won't come out of hiding and to top it off all you tea people Koch republicans especially your elected officials (and I use the term officials loosely) look like a bunch of spoiled brats jumping up and down and stomping your feet to get attention. As usual the tea people Koch republican clown show goes merrily on.