How Do Weak Euro Nations Fund Themselves Now?

You may be wondering how Portugal, Ireland, Italy, Greece and Spain fund themselves now, given the dire circumstances of their economies. It is primarily this, and very simple: The European Central Bank (ECB) loans enormous sums of money to European and other banks, currently over 800 of them, who in turn buy government debt with the money. That debt is called "Sovereign Bonds."

The problem with these deeply troubled economies is their national debts are so great and growing, that the ECB doesn't nearly have the money to cover those debts. This means those countries are confronted with financial collapse. To avoid such a collapse, which given the extensive ties between nations and banks will trigger a domino effect, I propose they acknowledge the seriousness of the situation and appeal for a global bailout. This dire situation can still be solved now if we as people and as nations across the globe are given a chance to help.

Dick
If you would like to know more about the current European economic crisis, please see "Europe's Rescue Plan Falters: Banks in Troubled Countries Close to Exhausting Money Injected to Ease Crisis." The Wall Street Journal http://online.wsj.com/article/SB10001424052702304331204577352031520413246.html?mod=googlenews_wsj