Andrew Barnett, LTG GoldRock

Any EU finance minister with any sense in Europe surely must be thinking this 130 billion euro is a waste of money and they are just putting off what Greece and the markets should simply suck up now. Greece is broke financially, everyone knows it, they will never deliver the austerity measures to increase growth and productivity to pay off their debt and they are simply dragging out a situation that can be brought to a head right now. What the EU is trying to do is let it happen slowly so financial markets and Europe don't go into a tail spin. They know Greece is doomed financially, and should not be part of the Euro any longer. It is causing more problems than it is worth and it is just a matter of time. The quicker they change the EU treaty to give countries like Greece the flick the better off Europe will be.

Do you think that the EU Finance Ministers might be thinking this?   “If we let Greece default and not give them the 130 billion euro we risk Europe going into a complete tail spin, a deeper recession and contagion everywhere. Portugal, Spain and Ireland are already broke and Italy is on the brink and although the best answer is to let Greece default and expel it from the Euro, the risks are too high for the rest of Europe. So we are stuck with giving them another 130 billion euro and trying to let them down slowly so they have a smaller (no smaller really) impact on what is already a financial disaster and cost Europeans a small fortune.”

Over a few beers I believe every EU Ministers would openly admit to the above.