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Banks A Billion: Euro ‘Socialism’ Backfires in Germany

from RussiaToday

The Eurozone is ready to pour 30 billion Euros into Spain’s beleagured banks by the end of the month. The EU’s finance ministers are also expected to grant Madrid one more year to cut its budget deficit. Meanwhile, the leaders of Britain and France are set for talks at Downing Street, to hammer out a joint strategy to battle the crisis.

Especially worrying is the well of cash running dry. A German court is set to rule whether the Eurozone’s new bailout fund is violating the country’s constitution. The unequal rules inside the currency union may prove its downfall, as RT’s Oksana Boyko reports


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RT (Russia Today) is a global news network broadcasting from Moscow and Washington studios. RT is the first news channel to break the 500 million YouTube views benchmark.

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