Friday, June 19, 2015

Don't Expect Russia to Throw Good Money After Bad To Save The Euro

Key word in the headline below is CONSIDER. If Russia provides loans to Greece to maintain the Euro and euro zone leadership with no strings attached, then they will be throwing good money after bad. Russia, despite Western headlines often suggesting otherwise, is neither foolish or stupid.

Headline: Russia willing to consider loans for Greece

ST. PETERSBURG, Russia (AP) -- Russia is willing to consider giving financial aid to Greece, a Russian government official said Friday ahead of talks between the leaders of the two countries.

Greek Prime Minister Alexis Tsipras traveled to Russia as his country struggles to reach a deal with its creditors for new loans it needs to avoid defaulting on debt payments at the end of the month. Without the bailout, Greece could be headed for bankruptcy or an exit from the euro.



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