eu domino's next spain and portugal, page-5

'If the EU doesnt stand behind these countries the Euro is toast'

If the Eurozone does stand behind these countries then the EURO could also be toast - in the longer term. Bailouts dont come for free both money wise and 'moral hazard' wise.

The cost of the bailout will be significant and unpalatable to french/german taxpayers. The printing presses will be revved up as a result and the currency also hit.

In addition, the failings of the PIIGS is a 'system' failure. They just dont get it, that you CANT spend more than you earn. They may be bailed out today, but the problem will continue because all they know is spend spend spend- taxpayers to these bailouts should be mindful of that.