World Bank Chief Robert Zoellick: Greece’s €130Bn Bailout Merely Buys It Time!
- Wow, the head of the Illuminist World Bank comes out and tells the truth! Perhaps it is because he is leaving the bank! How much time has this 2nd bailout given Greece? Or should I say given the Illuminist banksters? Maybe only until 20 March 2012! The war drums are beating louder and louder because the Illuminists are getting ready to pull the plug on the Eurozone (and the global economy). They need a world war to kill off their enemies: the sheeple, to obfuscate what is really happening to the economy, escape arrests …. etc.
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World Bank chief Robert Zoellick: Greece’s €130bn bailout merely buys it time!
by http://www.telegraph.co.uk/
Robert Zoellick, the outgoing President of the World Bank, has warned that Greece’s latest €130bn (£108bn) bailout would merely buy it time, adding that a European recession would hamper crucial reforms needed to lift the area out of the crisis.
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“I think that the European Union has dealt with Greece as one element but the core elements are really going to be the success of some of the bigger countries, such as Italy and Spain,” Mr Zoellick told Reuters. “It’s too early to know, partly it depends on the actions the Greeks have to take,” he added.
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Mr Zoellick, who will step down in June, also said that Portugal, which received a €78bn rescue package last year, would not need another bailout. “Each country’s situation is different and you really have three interconnected problems. For some it’s the size of the sovereign debt, for some it’s the effect on the banking industry, and for some it’s their competitiveness,” he said adding that “Spain and Italy need time to make the reforms.”
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“But I do think that all this is harder to accomplish when there is a recession in Europe.”
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Mr Zoellick’s comments came as finance ministers and central bankers from the world’s 20 most powerful economies gathered in Mexico to discuss the ongoing eurozone crisis.
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