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December 03, 2010
Obama Ready To Back Bigger EU Stability Fund-Official
U.S. ready to back bigger EU stability fund-official (US Taxpayers to Bail Out Europe)
US to bailout Europe through IMF
The United States would be ready to support the extension of the European Financial Stability Facility via an extra commitment of money from the International Monetary Fund, a U.S. official told Reuters on Wednesday.
"There are a lot of people talking about that. I think the European Commission has talked about that," said the U.S. official, commenting on enlarging the European stability fund. "It is up to the Europeans. We will certainly support using the IMF in these circumstances."
"There are obviously some severe market problems," said the official, speaking on condition of anonymity. "In May, it was Greece. This is Ireland and Portugal. If there is contagion that's a huge problem for the global economy."
While reluctant to dictate to Europe how it should address the unfolding debt crisis, the U.S. government is growing increasingly concerned about the global fallout of Europe's debt crisis. A U.S. Treasury envoy has been sent to Europe for talks.
The IMF, whose biggest single shareholder is the United States, has now contributed 250 billion euros or one third of the EFSF financial rescue mechanism.
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Bonds sink further on report of U.S aid to Europe
Treasurys sold off further, sending yields higher, after a news report said the U.S. would support an extension of aid to Europe.
Yields on the 10-year Treasury /quotes/comstock/31*!ust10y (UST10Y 2.95, +0.15, +5.47%) were up 13 basis points to 2.93% as prices fell. They had risen 12 basis points earlier. Yields on the two-year note /quotes/comstock/31*!ust2yr (UST2YR 0.52, +0.06, +13.68%) gained 5 basis points to 0.51%. Yields on the 30-year bond gained 8 basis points to 4.20%. Citing an unnamed U.S. official, Reuters reported that the U.S. would be ready to support the extension of the European Financial Stability Facility via an extra commitment of money from the International Monetary Fund. Stocks and oil surged and the dollar added to losses.
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Wild Thing's comment........
Obama's rape of America continues , he hates our country beyond words and has no conscience or shame.
In another time Americans would be revolting in the streets over this headline. Sadly most will not even know we are doing it.
Posted by Wild Thing at December 3, 2010 04:48 AM
Comments
So we bail water out of their sinking ship into our sinking ship and how does this help anyone? This is what happens because of globalization. An independent and strong America could withstand these problems.
Posted by: petesuj at December 3, 2010 08:13 AM
Absolutely petesuj! American taxpayers get to do that bailing.
Posted by: TomR,armed in Texas at December 3, 2010 09:40 AM
America is bankrupt yet we continue to borrow money from the commie reds to give to europe. WTF is wrong with these illiterate asswipes in DC?
Posted by: Eddie (Enemy of the State) at December 3, 2010 12:41 PM
The nation is broke and having to cut back domestically while Obama gives out billions in foreign aid. This is freaking nuts.
Posted by: BobF at December 3, 2010 12:43 PM
Thank you everyone so much.
Posted by: Wild Thing at December 4, 2010 03:52 AM
