Wednesday, November 30, 2011

Euro Debt Crisis Delayed For 10 More Days

Europe Delays Major Debt Decisions For 10 Days -- Myway News/AP

BRUSSELS (AP) - Under pressure to deliver shock treatment to the ailing euro, European finance ministers failed to come up with a plan for European countries to spend within their means. Such a plan is needed before Europe's central bank and the International Monetary Fund consider stepping in to stem an escalating threat to the global economy.

The ministers delayed action on major financial issues - such as the concept of a closer fiscal union that would guarantee more budgetary discipline - until their bosses meet next week in Brussels.

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My Comment: In the meantime .... the people with money are getting ready for the downgrades and the chaos that will follow.

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