Quote Originally Posted by CitizenCain View Post
Honestly, though, seeing as how there's really no chance of getting this money back, and even less of a chance that the PIGS can pull off anything even resembling fiscal responsibility, isn't this bail out just delaying the inevitable and inflating the bubble even more so that the eventual collapse of these PIGieS will be all the more catastrophic, and drag everyone down with them?

Not that I have a problem with that happening - I'd finally get a chance to really use my guns - but calling this bailout a solution is kind of inaccurate. It's a delaying tactic, at best, and will make things all that much worse when the inevitable collapse does come.
It is a delaying tactic, but by delaying you also create a possibility of changing things in a way that in the end prevents the worst case scenario alltogether. For me it's replacing the near-certainty of a financial catastrophy with a risk of it. It's not going to help if the PIGS aren't going to restructure effectively and soon.

They've taken Greece by the balls, Portugal and Spain seem to have gotten the message. And Ireland already is starting to look better.

Oh, to my surprise I saw that Estonia is considering to apply for EMU membership in July. They qualify, on all counts better than any of the existing members