(email exchange)
Right, thanks!
>
> On Fri, Oct 3, 2008 at 10:01 AM, wrote:
>
> In a message dated 10/3/2008 01:00:23 Mountain Daylight
> Time, wrote:
>
> Jean-Claude Trichet, president of the European Central Bank,
> said the EU’s structure was ill-suited to a common bail-out
> scheme.
>
> ”We do not have a federal budget, so the idea that we could
> do the same as what is done on the other side of the Atlantic
> doesn’t fit with the political structure of Europe.” Silvio
> Berlusconi, the Italian prime minister, will want to be seen
> supporting Mr Sarkozy in proposals for greater regulation. But
> with the desperate state of Italy’s public finances – debts of
> more than 103 per cent of gross domestic product – he will
> not be in a position to offer much in terms of an EU bail-out
> package.
>
> Bingo! Berlusconi gets it!
[top]