It's a bit scary that €750b bails out Italy and Spain, but little Ireland would probably need close-on 10% of that pot of cash to get ourselves right. €50b for the banks + a bit more.
You know there is no 750B? Firstly it has not been ratified by the key governments. Plus almost 300B of that 750B comes from...Spain, Italy, Greece, Portugal and Ireland.
So who does Ireland borrow its 20B from?
And who is going to pick up the 600B of rollover that Spanish banks on their own will be trying to finance in the next 12 / 18 months?
At least Madoffs ponzi had some grounding in financial reality.
+1, Ireland paying over 11bn to help bail out itself. Other PIIGS doing similar.
Even if the 750bn magically appears, what happens when it disappears instantly. What next?
How long will the the 750bn buy time wise? Not much i'd imagine.