Infographic of the Day: The Debt Superhighway

[baronWastelan]

pray tell why does superior Europe need $billions from simpleton America?

BBC News 15 March 2012
The International Monetary Fund (IMF) has agreed to pay 28bn euros ($36.7bn, £23.3bn) towards Greece's second bailout of 130bn euros after last week's private debt swap.

The body's approval - which was expected - is the final step in completing the long-awaited rescue fund for the eurozone's worst-hit country.

The IMF said it would pay 1.65bn euros of the money to Greece immediately.

The bailout is intended to help keep Greece funded until 2014.

The IMF board's decision means Greece has now received approval from all of the bodies contributing funds.
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In fact, on March 15 the IMF gave Greece another $36.7 billion–$7.5 billion of that money came directly from the U.S. taxpayer. That makes a total of $13 billion U.S. taxpayer dollars spent on Greece alone, and over $20 billion on Europe. If Congress was forced to offset this with cuts, they would need to eliminate a Cabinet level department about the size of the U.S. Department of Labor.

Read more at NetRightDaily.com: http://netrightdaily.com/action/stop...#ixzz1pD9ahjRQ