There is a faulty meme circulating that the US is on the hook for enormous amounts of the $145 billion dollar Greek bailout. Rumors of 20, 30 even 40% of the total bailout
Turns out the US participation is de minimus.
U.S. participation in the €110 billion ($145 billion) loan to Greece is relatively modest. The 15 nation euro-zone governments are ponying up $106 billion, divided according to their stake in the European Central Bank. Germany, for example kicks in $29 billion, with France good for $22 billion.
Of the $39 billion the IMF is participating in, the US is likely to kick in somewhere in the neighborhood of $3 billion dollars. Considering the US role in the global collapse, that is a relative bargain.
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Source:
Who’s on the Hook for the IMF’s Greek Bailout?
BOB DAVIS
WSJ, MAY 5, 2010
http://online.wsj.com/article/SB10001424052748704866204575224421086866944.html
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