Sunday, November 28, 2010

EU agrees on $89 billion bailout loan for Ireland

First Greece now Ireland, somehow the thought the EU will pull itself out of the debt crisis is much like expecting the Bengals to win the Super Bowl next year (possible but very unlikely). The rescue of first Greece and now Ireland means all of the other members of the EU will be financially strained and could tip the next country into a crisis. Meanwhile, old biases and feuds between countries are getting rekindled by the very organization that was created to eliminate such barriers. The situation is more grim than the media let's on. Britain is now seriously considering downsizing its military and creating a joint military, with France. The two nations have historically been rivals or even outright enemies and for the British to give word to such a notion means the economy truly is in dire straits. In the meantime, should the US end up in some type of conflict with South Korea the failing EU economy means the US may be forced to go at this alone. China, despite tepid protests in the media, and keep North Korea afloat should situations escalate. Japan may be interested in any conflicts but will remain on the sidelines both because of its own internal problems as well as the specter of Russian laying claims to the Kurile Islands.

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