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Spiegel reports second Greek bailout to surpass 100 billion
Date 06/06/2011 14:45  Author webmaster  Hits 1089  Language Global
6 JUN 2011

By Tyler Durden | Zero Hedge

It's the weekend, which means another Spiegel hit piece over the solvency and stability of the Eurozone is overdue.

Sure enough, the publication comes through admirably with "New Greek aid to cost more than one hundred billion euros."  As a reminder, until as recently as 24 hours ago it was expected that the bailout would be at most €80 billion, with half coming from Greek privatization efforts.

Naturally, this means that even more money will be transferred from taxpayer pockets to bank capital deficiency accounts.

Next up: Greek bailouts 3, 4, 5, by which point Goldman will have hopefully achieved its life long ambition of opening a Goldman Sachs-branded ATM at the main entrance to the Acropolis, which GS will have LBOed using discount window capital.

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See also:
Agreement over next slice of Greek aid (EUobserver)