Tufar on Finance and Economy

European Union woke up and realized that speculative attack on Greek government debt was very akin to speculative attacks on US Banks in 2008. It is rumored that Germany and France are to provide loan guarantees to Greek debt. I applaud them, this is the right thing to do. They just broke the vicious combo that would have spiraled down into a full-blown crisis of Euro currency and maybe even the whole European Union or at least it’s southern part. Somebody in recent days said that Greece is “too small to fail”. Right on.