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  • Europe's Trillion-Dollar Bailout - Can It Work

    On April 12, the International Monetary Fund (IMF) increased the capacity of its emergency lending fund from $50 billion to $550 billion, a ten-fold increase. Less than a month later, the European Union announced a near $1 trillion bailout fund to aid Greece and any other countries in Europe that may get into trouble. At the same time, the EU announced that the IMF will be chipping in apprx. one-third ($321 billion) of the near $1 trillion bailout. Since the US is the IMF's largest contributor, this means that US taxpayers will be footing part of the bill to bailout Greece and possibly other European countries. Isn't that just dandy! And it gets even worse, so be sure to read on.

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