Please note this was wrote on Saturday so monday hey go KABOOM??? EU Leaders kicked the can to Thursday to meet..so far I haven't seen that they moved it up:
UK NEWS
48 HOURS TO SAVE THE EURO AS GREECE DEAL STALLS
Saturday July 16,2011
By Daily Express reporter
EXPERTS last night warned Europe has only 48 hours to save the single currency amid concern over the failure to seal a new rescue plan for debt-laden Greece.
The inability of politicians to agree a solution to the financial crisis threatening Europe sparked market jitters as continued uncertainty threatened to undermine the eurozone. One City executive said: “We need to come in on Monday morning and see something happening, otherwise I fear the worst.”
There are concerns that Italy and Spain could follow Greece, Portugal and Ireland in going broke and needing bailouts from richer countries to keep afloat.
But many in Britain believe further handouts would be ludicrous when it is clear the originals have not worked. Conservative MP Douglas Carswell said: “Many member states have been living beyond their means for years, if not decades, and there is nothing central bankers or politicians can do to make two and two equal five.
“Somehow maintaining the single currency union is not the answer and the longer we go on being told by the political elite in Europe and in the UK that somehow the answer is to save the euro, the worse the problem will get.”
There are concerns that Italy and Spain could follow Greece, Portugal and Ireland in going broke
He believed the only solution was for crisis-ridden countries to carry out the “three Ds”: Devalue their currencies by decoupling from the euro, default on their debts and downsize their public sector.
Mr Carswell added: “The well being of millions of Europeans is being sacrificed by an out-of-touch, self-serving political elite, and what’s shocking is that our politicians are going along with it. We should speak the truth to our neighbors, that we have to come out of this monetary union.
“We have made a banking crisis into a sovereign default crisis, we’ve piled bailout on bailout. Something has to give. It’s time for a drastically different approach.”
UK NEWS
48 HOURS TO SAVE THE EURO AS GREECE DEAL STALLS
Saturday July 16,2011
By Daily Express reporter
EXPERTS last night warned Europe has only 48 hours to save the single currency amid concern over the failure to seal a new rescue plan for debt-laden Greece.
The inability of politicians to agree a solution to the financial crisis threatening Europe sparked market jitters as continued uncertainty threatened to undermine the eurozone. One City executive said: “We need to come in on Monday morning and see something happening, otherwise I fear the worst.”
There are concerns that Italy and Spain could follow Greece, Portugal and Ireland in going broke and needing bailouts from richer countries to keep afloat.
But many in Britain believe further handouts would be ludicrous when it is clear the originals have not worked. Conservative MP Douglas Carswell said: “Many member states have been living beyond their means for years, if not decades, and there is nothing central bankers or politicians can do to make two and two equal five.
“Somehow maintaining the single currency union is not the answer and the longer we go on being told by the political elite in Europe and in the UK that somehow the answer is to save the euro, the worse the problem will get.”
There are concerns that Italy and Spain could follow Greece, Portugal and Ireland in going broke
He believed the only solution was for crisis-ridden countries to carry out the “three Ds”: Devalue their currencies by decoupling from the euro, default on their debts and downsize their public sector.
Mr Carswell added: “The well being of millions of Europeans is being sacrificed by an out-of-touch, self-serving political elite, and what’s shocking is that our politicians are going along with it. We should speak the truth to our neighbors, that we have to come out of this monetary union.
“We have made a banking crisis into a sovereign default crisis, we’ve piled bailout on bailout. Something has to give. It’s time for a drastically different approach.”