One wonders what the Bilderberger Rothschild puppets are smiling about

See how pathetic global moron leaders are these days - Ms Merkel smiling as she had some glorious victory although she just started the proccess of the EU titanic ramming the iceberg.
As Manduca puts it correctly in the excerpt below - I had written about the undeserved rise of the EURO as its fundamentals were even more rotten than theone of the USA as their social security system will collapse with the aging population anyhow.

By CHARLES FORELLE And MARCUS WALKER

BRUSSELS—Leaders of the 16-nation euro zone, bridging sharp philosophical divides that tested the decade-old currency bloc, backed a deal under which they and the International Monetary Fund would jointly bail out Greece should the country's debt troubles intensify.

The agreement won't immediately trigger a Greek rescue, but it lays the groundwork for both the first intervention by the IMF in a euro-zone country and a major relaxation of the tight restrictions on country-to-country bailouts that have been a feature of the currency union since its birth. The accord suggests Greece's financial travails are forcing the euro zone further along a path to greater economic coordination that has been resisted by national governments.

France gets on board for a possible Greek aid package as a senior Chinese central bank official criticizes the handling of the Greek debt crisis. Plus, Texas attempts to collect a "pole tax" that would include a $5 fee from everyone who patronizes a strip club in the state.

The European Union has been riven for weeks by disagreements over how to handle the troubles with Greece, which is running heavy budget deficits and struggling to refinance its hefty debt.

Germany, Europe's largest economy, made the IMF's involvement a condition of its own participation in any Greece bailout. Voters and lawmakers in fiscally frugal Germany are loath to open their wallets to bail out more free-spending peers, and the IMF would absorb a chunk of the cost. France saw turning to the IMF—normally a route for developing nations—as an embarrassment to the wealthy bloc, but it dropped its objections in exchange for Germany's agreement to lay out explicit arrangements for a rescue.

Only one western European nation—Iceland, in 2008—has received aid from the IMF since 1976, when the U.K. took a humbling loan from the fund.

excerpt 2

ECU Group's Philip Manduca "We Are At A Tipping Point" And The Only Thing That May Save The Euro Is A Collapse Of The USA

For once, some actually good insight from a CNBC guest. Philip Manduca, Head of Investment of the ECU Group, discusses Greece and the very severe implications of what the final outcome will look like. "Trichet said the Greeks are crooks, and they've been lying about the numbers. There is a deeply embedded corruption within the Eurozone. Combined with the endemic European socialism and there is just no way you are going to get spending cuts and tax raises and maintain a GDP that makes any sense of the percentage aspect of debt to GDP. So the whole show is wrong. This is an intractable situation, this is going to continue on and on. The onle hope for the Eurozone, and the Euro as a currency, is that sameone takes the spotlight soon, and that may be the United States." Watch the rest as Philip's perspective is spot on...Not to mention that he sees gold as the only alternative to the fiat bonfire soon to engulf the western world.