Tuesday, August 23, 2011

Gates of Vienna News Feed 8/23/2011

Gates of Vienna News Feed 8/23/2011Finland has started a new trend by demanding collateral from Greece for the money that it will contribute to the Greek bailout. After Finland struck its deal with Greece, Austria, the Netherlands, Slovakia, and Slovenia followed suit, demanding their own collateral. Greece apparently has no more islands it can hock as collateral, so it will be required to put up a cash deposit. However, since it has no money of its own, it will probably have to borrow the money from… the European bailout fund.

Yes, things really have gotten that weird in Europe.

In other news, at least one of the aftershocks following today’s Louisa County (Virginia) earthquake registered 4.8 on the Richter scale, according to updated measurements.

To see the headlines and the articles, open the full news post.

Thanks to C. Cantoni, Gaia, Insubria, Janet Levy, Jedilson Bonfim, JP, Nilk, Steen, and all the other tipsters who sent these in.

Commenters are advised to leave their comments at this post (rather than with the news articles) so that they are more easily accessible.

Caveat: Articles in the news feed are posted “as is”. Gates of Vienna cannot vouch for the authenticity or accuracy of the contents of any individual item posted here. We check each entry to make sure it is relatively interesting, not patently offensive, and at least superficially plausible. The link to the original is included with each item’s title. Further research and verification are left to the reader.


Cyrus said...

Since societies are a consequence of the people inhabiting them, it is when the people are broken that societies break, not vice versa. Author of the article is on a good lead, just needs to get perspective right is all.

Anne said...

Businesses in the Eurozone who export to the rest of the Eurozone do not want the south splitting off, and thereby having their new currency decline against the Euro. It would hurt their business.

This thing is more complicated than it looks, in terms of people's preferences. They need to get some economists studying how much of a benefit the common currency is for the northern countries. I have not seen anything like that, I read WSJ and The Economist.