Friday, December 31, 2010
Who Will Save PIGS in EU
In Davos, some countries began to search for a new way to escape their financial crisis. Among EU members, Portugul, Italy, Greece, and Spain (PIGS) basically have financial tsunami in their own purses. All of these countries have very high deficits in GDP; therefore, PICS are looking for life-savor. According to Financial Times, the Greek government is asking the Chinese government to buy Greece 250-million-bonds. Why don’t any other countries in EU, such as Germany or France, offer any help to save Greece?