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Latest Posts By teeth53 - Supreme      About teeth53
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18-Jul-2011 22:21 YZJ Shipbldg SGD   /   Cruising with the ship ..Yangzijiang       Go to Message
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x 0 		$$$: 123 fire....Arhh.....?...Smiley 111

pharoah88      ( Date: 18-Jul-2011 18:16) Posted:



Monday:  18 JULY 2011

S$1.235
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18-Jul-2011 00:12 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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http://www.sfexaminer.com/news/health/2011/07/economic-outlook-grim-if-no-debt-deal-reached


A U.S. default, or near-default, could also cause financial panic around the globe as international investors flee Treasury bonds and bills and other dollar-denominated investments. The value of the U.S. dollar against other major currencies could tank.

Given the nation's already high unemployment rate and shaky housing markets, it would likely send the economy quickly back into recession.

Dow Jones Industrial Average lost 778 points on one day in Oct 2008 when the House voted down the bank bailout bill, known as the Troubled Asset Relief Program — a vote that was quickly reversed.

Economists can easily see a 1,000-point or larger plunge in the Dow if the negotiations to raise the debt ceiling fail — dealing a savage blow to already fragile 401(k) plans and similar retirement investments.

How hard and fast really is the Aug. 2 date?


National debt, the legacy of years of accumulated deficit spending by presidents and legislators of both parties, now stands at $14.34 trillion. The govt blew past the legal debt limit on May 16. Treasury has kept paying bills with accounting footwork ever since but is nearing the end of that. Now, said Geithner recently.

teeth53 thot: first  week of August 2011 is going tobe much more  unsettling for DOW  then end July.
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17-Jul-2011 23:48 Others   /   Aug 2, US-living on borrow time from debt disaster       Go to Message
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http://www.sfexaminer.com/news/health/2011/07/economic-outlook-grim-if-no-debt-deal-reached


No one knows exactly what choices Obama and his top officials would make if the crisis comes. The White House Office of Budget and Management is the agency charged with reviewing possible cuts in benefits and payments while the Treasury Department handles cash flow. All have been mum about their crisis plans, apparently to avoid market speculation or panic.

But Treasury Secretary Timothy Geithner has insisted the deadline is real. " There is no credible way to give Congress more time," he said recently.

One analysis, by the Bipartisan Policy Center, suggests that once the government runs out of cash and lacks the power to further borrow, it would need to slash spending at once by as much as a whopping 44 percent.

The U.S. now borrows more than 40 cents for every dollar it spends.

Read more at the San Francisco Examiner: http://www.sfexaminer.com/news/health/2011/07/economic-outlook-grim-if-no-debt-deal-reached#ixzz1SNUCNyej


Govt contractors are likely to be among the early victims, says Paul Light, professor of public policy at New York University. " No new contracts. Delayed payments. Stop work orders. I can't imagine  - Obama would ever touch soldiers' pay. But you'd get closing of parks, as we've seen in Minnesota, the national monuments, freezes on discretionary spending including Medicaid."

Other early austerity steps would likely include halting of highway projects and research grants, and orders to stop clinical trials of new drugs and cancer research.

The state govt shutdown in Minnesota may indeed offer a preview of what lies ahead on a larger scale.


teeth53      ( Date: 17-Jul-2011 10:25) Posted:



Agree. Staying alert and in tune rather then ignoring can assist us in making a better decision..

The cost of two (2) weeks delay will cost U.S. tax payers about US$150 billion in short fall.

Aug 03 - some  US$23 billion in social securities benefit payments are due.

Aug 04 - Treasury dept must pay US$87 billion to investors to redeem maturing treasury securities.

Aug 15 - more then US$30 billion interest payments are due., and

in additional to those costs, d govt normally pays US$10 billion daily to contractors, medicare providers, federal employees (public employees) and others.     

http://sg.news.yahoo.com/photos/public-debt-worlds-richest-countries-photo-115443410.html

The US govt reached its debt limit of $14.29 trillion in May, and since then the Treasury Dept has used special measures to allow the govt to keep paying its bills.

Unless the limit is raised by August 2, the Treasury says, growing spending and debt service commitments will force a default, which would have disastrous ripple effects throughout the global financial system.

teeth53 thot: a two weeks delay is enuff to cause alot of headache, together with EU-PIIGs.

timqoo      ( Date: 15-Jul-2011 09:57) Posted:

well, can't discount the facts that anything can happen. must be alert and flexible always.
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17-Jul-2011 23:30 Others   /   Aug 2, US-living on borrow time from debt disaster       Go to Message
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http://www.huffingtonpost.com/sheldon-filger/sovereign-debt-crisis-now_b_577989.html

Sovereign Debt Crisis Now Threatens the U.S. Economy

ATHENS (Reuters) - Secretary of State Hillary Clinton on Sunday voiced strong U.S. support for Greece's battle to overcome its debt crisis, saying it was taking the difficult steps required for future growth.



Clinton's visit to Athens was intended to signal Washington's backing for Prime Minister George Papandreou ahead of a meeting of euro zone leaders in Brussels on Thursday to decide on a new bailout package for Greece amid fears the debt crisis could spill over to Spain and Italy. Meanwhile...

With time running short, President Barack Obama and lawmakers were struggling for ways to lift the debt ceiling and reduce the deficit as an Aug. 2 deadline to prevent a default draws dangerously close.

teeth53 thot: Secretary of State Hillary Clinton see, but can't help. " Americans know these are difficult days"

The cost of two (2) weeks delay will cost U.S. tax payers about US$150 billion in short fall.
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17-Jul-2011 23:08 Others   /   Asean/Japan Quake n nuclear crisis apocalyptic..?       Go to Message
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http://sg.finance.yahoo.com/news/Radiation-concerns-for-Japans-apf-2328240618.html?x=0

  Sat, July 16 photo, cattle are fed after officials confirmed the hay were safe at a farm in Miharu, Fukushima Prefecture, northeastern Japan. On Sunday. Japan officials race to struggled to determine the scope of the problem and prevent further contamination of the meat supply...?.

Fukushima's govt said 84 head of cattle shipped from five farms had been fed contaminated straw.

It also released results of tests conducted on remaining straw, which revealed cesium levels as high as 500,000 becquerels per kilogram at one farm in Koriyama City. That translates to roughly 378 times the legal limit.

The new revelation brings the number of exposed cows so far to 143, according to Kyodo News agency.

The issue gained attention on July 8,  as Tokyo Metropolitan govt said it had detected radiation in beef originating from a farm in Minami Soma, located about 16 miles (25 kilometers) north of the crippled nuclear plant. Its sample indicated 2,300 becquerels per kilogram.

Local and national govt officials say they are working to trace the location of the suspected meat and will improve safety checks.

teeth53 thot: Believe there is more to it, on air, in sea water and on land. Radiation is everywhere in effected area as it ripple it effectively,  filtering to as far as Tokyo.

teeth53      ( Date: 27-Jun-2011 16:49) Posted:

pee piss urineImage: commons.wikimedia.org
Newsflash: The radioactive crisis near Fukushima isn't getting any better.

 

This has been something we discussed in the last few weeks, but now there are some new disturbing details.

From Japan Times:

More than 3 millisieverts of radiation has been measured in the urine of 15 Fukushima residents of the village of Iitate and the town of Kawamata, confirming internal radiation exposure, it was learned Sunday.

Both are about 30 to 40 km from the Fukushima No. 1 power plant, which has been releasing radioactive material into the environment since the week of March 11, when the quake and tsunami caused core meltdowns.

Click here for images of total post-quake devastation >

Read more: http://www.businessinsider.com/residents-near-fukushima-are-pissing-radioactive-urine-2011-6#ixzz1QSqq5eZy



teeth53      ( Date: 27-Jun-2011 16:45) Posted:



OMG...Will it be found in babies...?.

[Jun 26, 2011] ... near Fukushima isn't getting any better. From Japan Times: ... 3 millisieverts of radiation has been measured in the urine of 15 Fukushima residents of the ... ( 1 Comment )
businessinsider.com/residents-near-​ fukushima-are-pissing-radioactive-​ urine... - 94k
[Jun 26, 2011] ... near Fukushima isn't getting any better. From Japan Times: ... 3 millisieverts of radiation has been measured in the urine of 15 Fukushima residents of the ... ( 1 Comment )
businessinsider.com/residents-near-​ fukushima-are-pissing-radioactive-​ urine... - 94k
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17-Jul-2011 11:35 Others   /   Should I let go of my shares?       Go to Message
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Take stocks -

EU banks at risk in even a mild recession as stress test result is revea. Meanwhile as EU has painted and not painting  a more rosy picture..result reveal 90 lenders, oni 8 failed: 5 in Spain, 2 in Greece and 1 in Austria.

In London - Questionmarks over stress test's credibility?. the 8 failed banks need only S$4.3 billion or 2.5 billion euros in fresh capital by  year end.

In contrast. S& P conducted its own analysis and concluded in March - They needed as much as 250 billion euros. To withstand a sharp increase in yields ans a severe economic downturn.

What is undermining the credibility of this latest attemp to calm EU financial feras - is d third in three years,  is that, a sovereign debt default was not among the worst-case scenarios under consideration, even credit default swaps already indicate an 87% chance that Greece will not be able to repay their debts mountain.

The IMF mission  - requested by Greece as it battles huge budget deficits and a debt mountain of nearly 300 billion euros (S$561 billion).

http://www.huffingtonpost.com/sheldon-filger/sovereign-debt-crisis-now_b_577989.html

Sovereign Debt Crisis Now Threatens the U.S. Economy



teeth53      ( Date: 15-Jun-2006 21:33) Posted:

Take stocks, today is sell on good news, good stock is good to hold for at least another round of good news, so those who bot may have letgo today for tomorro U never know what is coming. Ya lor, well quote robinpang.
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17-Jul-2011 11:02 Others   /   Aug 2, US-living on borrow time from debt disaster       Go to Message
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teeth53 thot: Is it EU govt bank going to take the hard knock.?. as govt try to calm a in coming storm?.

EU banks at risk in even a mild recession as stress test result is reveal. Meanwhile as EU has painted a more rosy picture..result reveal 90 lenders, oni 8 failed: 5 in Spain, 2 in Greece and 1 in Austria.

In London - Questionmarks over stress test's credibility?. the 8 failed banks need only S$4.3 billion or 2.5 billion euros in fresh capital by  year end.

In contrast. S& P conducted its own analysis and concluded in March - They needed as much as 250 billion euros. To withstand a sharp increase in yields ans a severe economic downturn.

What is undermining the credibility of this latest attempt to calm EU financial fears - is d third in three years,  is that, a sovereign debt default was not among the worst-case scenarios under consideration, even credit default swaps already indicate an 87% chance that Greece will not be able to repay their debts mountain.

The IMF mission  - requested by Greece as it battles huge budget deficits and a debt mountain of nearly 300 billion euros (S$561 billion).

http://www.huffingtonpost.com/sheldon-filger/sovereign-debt-crisis-now_b_577989.html

Sovereign Debt Crisis Now Threatens the U.S. Economy



 

 
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17-Jul-2011 10:25 Others   /   Aug 2, US-living on borrow time from debt disaster       Go to Message
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Agree. Staying alert and in tune rather then ignoring can assist us in making a better decision..

The cost of two (2) weeks delay will cost U.S. tax payers about US$150 billion in short fall.

Aug 03 - some  US$23 billion in social securities benefit payments are due.

Aug 04 - Treasury dept must pay US$87 billion to investors to redeem maturing treasury securities.

Aug 15 - more then US$30 billion interest payments are due., and

in additional to those costs, d govt normally pays US$10 billion daily to contractors, medicare providers, federal employees (public employees) and others.     

http://sg.news.yahoo.com/photos/public-debt-worlds-richest-countries-photo-115443410.html

The US govt reached its debt limit of $14.29 trillion in May, and since then the Treasury Dept has used special measures to allow the govt to keep paying its bills.

Unless the limit is raised by August 2, the Treasury says, growing spending and debt service commitments will force a default, which would have disastrous ripple effects throughout the global financial system.

teeth53 thot: a two weeks delay is enuff to cause alot of headache, together with EU-PIIGs.

timqoo      ( Date: 15-Jul-2011 09:57) Posted:

well, can't discount the facts that anything can happen. must be alert and flexible always.
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16-Jul-2011 20:59 Others   /   Asean/Japan Quake n nuclear crisis apocalyptic..?       Go to Message
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China hidden truth...

http://sg.news.yahoo.com/china-oil-spill-six-times-size-singapore-govt-081344511.html

China oil spill six times size of Singapore: govt

A huge oil spill off the Chinese coast has now contaminated an area around six times the size of Singapore,

The spill from the oil field, which the U.S. ConocoPhillips operates with China's state-run oil giant CNOOC, has polluted a total area of almost 4,250 square kilometres (1,650 square miles).

The figures, which were announced on the State Oceanic Administration website earlier this week but only reported on Friday, were almost five times the size of the 840-square-kilometre area previously reported.

The spill was kept secret by the authorities for several weeks before being made public this month, sparking suspicions of an official cover-up, and the disaster has triggered a furious public response in China. 
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16-Jul-2011 20:48 Vard   /   STXOSV       Go to Message
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Will be another volatile week for Marine Industry. on a bad day, price  had proven to  trade lower between $1.41 plus plus, that was lead by Hong Kong was down by more then  3% .

Any further news - be it is good or bad, buy into weakness and sell into strength.

Good oni for short term play, has to respect the market on  how is was to be play out.

jamesng      ( Date: 16-Jul-2011 09:09) Posted:

will be great if it fall to 1.20 but not possible....likely the most is 1.33.....not sure why people want to buy at higher than 1.33 and let the BB earn so much....the rich get richer......so face it.....
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15-Jul-2011 22:12 800 Super   /   800 SUPER HOLDINGS LIMITED       Go to Message
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IPO placement offer  is responsing well. It better that way  then IPO public offer.

AI Lai Liao...Cheong....liaoSmiley 23  Smiley 52_Smiley 52

timqoo      ( Date: 15-Jul-2011 16:15) Posted:

super strong today. BB keeps rolling up.

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15-Jul-2011 21:56 Others   /   STI to cross 3383 by 2011 Nov       Go to Message
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July 13, 2011. STI to cross 3383 ($_$) 4D lobang...anyone kena?.

3383 came out First Price..Arhh. Huat...Arhh.

Huat....liao...ARHHSmiley 23 



risktaker      ( Date: 13-Jul-2011 14:12) Posted:

BullRun will jump start very soon. Be ready ! Japan.has started it rebuilding process. Demand will surge in aug. US is recovering from its soft patch. China will continue to grow with inflation rate likely to be around 5.4% this year. inflation will likely be.control by 2012 march. China will support Europe zone with bond buying. China has diversify its 3 trilion dollar reserve. we like genting sp, sembcorp marine. kepcorp. singtel. DBS, UOB. OCBC. Wilmar. stxosv. noble grp. sembcorp industries. GLP. Cland and goldenagri
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15-Jul-2011 21:05 IPO   /   Catalist listing- 800 Super offer at 0.22c       Go to Message
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it super volume  huat...Arhh. Closed of with a premium of 43.18%

5TG 800 Super   Open-0.270 Closed-0.315 0.000 0.0   Volume - 102,792,000
Time Last Volume Bid/Ask
17:05:02 0.315 2,446,000 A
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14-Jul-2011 22:00 Others   /   Aug 2, US-living on borrow time from debt disaster       Go to Message
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" enough is enough,"

President Barack Obama and congressional leaders are entering a perilous endgame in their debt limit standoff. The president, declaring, is demanding that budget negotiators find common ground by week's end.

http://sg.news.yahoo.com/gop-leaders-nation-cant-afford-default-202321479.html

WASHINGTON (AP) — Hope dimming for a broad debt-limit deal, Congress and the White House scrambled Wednesday to salvage deficit-reduction talks while top congressional Republicans said the nation cannot afford to default on its obligations — for economic reasons and their party's own good.

Ahead of a fourth negotiating session at the White House in as many days, Senate Republican leader Mitch McConnell defended his proposal to give President Barack Obama new powers to increase the nation's borrowing limit without GOP support.

" I refuse to help Obama get re-elected by marching Republicans into a position where we have co-ownership of a bad economy," McConnell said on a radio talk show, contending that letting the nation go into financial default would give Obama reason to blame Republicans for the negative fallout.

House Speaker John Boehner added his own warning against default, even as he expressed frustration with the White House over its role in negotiations to trim long-term federal deficits.

" Nobody wants to go there, because nobody knows what's going to happen," he said of a potential financial default. " It's a crapshoot."

teeth53 thot: President Obama of democrat,  may not has a smooth sailing job ahead  till end July.
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14-Jul-2011 21:49 Others   /   Aug 2, US-living on borrow time from debt disaster       Go to Message
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http://money.cnn.com/2011/07/13/news/economy/debt_ceiling_moodys/index.htm?iid=Popular

Debt ceiling: Moody's applying pressure, puts U.S. on notice.



Pressure on lawmakers to raise the debt ceiling was ratcheted up Wednesday when a major rating agency said it would put the sterling bond rating of the United States on review for possible downgrade.

" Moody's assessment is a timely reminder of the need for Congress to move quickly to avoid defaulting on the country's obligations and agree upon a substantial deficit reduction package," Treasury official Jeffrey A. Goldstein said in a statement.

http://www.cncworld.tv/news/v_show/16252_Geithner_brushes_off_talk_of_resignation.shtml

CNN reported Thursday that U.S. Treasury Secretary Tim Geithner said he is thinking of stepping down after debt talks. But in the same day, Geithner said he is keeping his post for the foreseeable future, and he wants to continue helping President Obama solve the country's economic woes.

teeth53 thot: President Obama of democrat,  may not has a smooth sailing job ahead  till end July.

 
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14-Jul-2011 21:31 Others   /   Ms Yingluck, Thaksin sis-big win in Thai election       Go to Message
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http://www.nationmultimedia.com/2011/07/14/national/A-new-storm-brewing-30160239.html

The Nation again today:
  • International Criminal Court and the Thai Royal Family


    • Kavi in The Nation:
    The efforts to ratify the International Criminal Court of Justice, which Thailand proudly signed in 2000, have fallen flat in the past eight years as some conservative lawyers thought that doing so would subject the Thai royal family to the ICC court of justice. Like a lot else in this country, whenever events and issues are related to the monarchy, the responsible authorities tend to play safe and exaggerate the impacts – real or imagined – without scrutinising the ever changing domestic and international environments. A more level-headed rationalisation is urgently needed.
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    14-Jul-2011 21:10 Others   /   Ms Yingluck, Thaksin sis-big win in Thai election       Go to Message
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    The Nation again today:


    Thailand will remain in suspense until Tuesday, when the Election Commission will decide on suspended PM-to-be Yingluck

    Dark clouds continue to hover over Thai politics, and the saying that Thais have been cursed to live with one political suspense after another is not an overstatement. Over the next six days, the whole country will once again have to hold its collective breath, this time over whether the possibility of having its first female prime minister will be shattered. Yingluck Shinawatra has been “suspended” by the Election Commission, and the fragile political peace depends on the further actions of the EC, which will be made public on Tuesday.

    The EC bombshell – its decision to delay endorsing Yingluck, outgoing Prime Minister Abhisit Vejjajiva and 14 other party-list candidates as MPs – may prove overblown if the panel was simply reacting to complaints against the affected politicians as it traditionally does. It may turn earth-shaking if there is  16 seats vacant by default by EC  – particularly Yingluck – remain unendorsed next week.

    The bad news for Yingluck is that while it is not unusual for the EC to delay endorsing accused candidates (who are normally confirmed later), it has never before acted against party-list winners in this way.

    Some pro-red critics claim Abhisit was put among those unendorsed only to make the whole list look unbiased.

    However, there are analysts who believe Tuesday’s EC action was intended to sweep both camps away to pave the way for a new political order.

    teeth53 thot: Yingluck party big  win of of 265, out of 500 seats will turn into 249 seats.... 

    Is a judicial coup in the offing in Thailand?
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    14-Jul-2011 20:55 Others   /   Ms Yingluck, Thaksin sis-big win in Thai election       Go to Message
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    http://asiancorrespondent.com/author/bangkokpundit/

    Is a judicial coup in the offing in Thailand?  By Bangkok Pundit Jul 14, 2011



    The election commission (EC) said the endorsement of Yingluck was delayed pending an inquiry into “several” legal matters regarding her party’s election campaign. Yingluck was portrayed by Pheu Thai as its prime ministerial candidate with a controversial slogan “Thaksin thinks, Pheu Thai acts”.

    She was also accused of violating vote-buying rules by cooking and distributing noodle dishes to constituents. Subsequently, the accusation was dropped by the EC.

    After a meeting lasting 10 hours, the EC yesterday endorsed the victories of 358 MPs, including 249 constituency and 109 party-list MPs.

    Among the other 14 party-list candidates not yet endorsed by the EC are red-shirt leaders Jatuporn Promphan, Natthawut Saikua, Weng Tojirakarn, Democrat Ong-art Klampaiboon and Bhum Jai Thai’s Chai Chidchob.

    The EC traditionally does not immediately endorse those who have had complaints lodged against them. The EC will meet again on July 19 to reconsider those have not yet been endorsed. EC member Sodsri Sataya-thum said a subcommittee would look into legal matters concerning the cases of Yingluck and Abhisit and report to the EC in seven days.

    By August 1, at least 475 MPs must be endorsed so that the House can assemble and begin work.

    teeth53 thot: Obeying rule is deem to break election  law, while unarmed street  demostrator is killed in  temple is not.., that is how Thailand, it  kingdom current  ruling elite's will never learn on how to  make Thailand strong and free. While ordinary folks is  for reconcile - The ruling elite is bent on taking power away from the people's.

    If the court fail in it mission, the army can follow up...by asking the yellow shirt to take over those two airports again. thus allowing army strongman to call in martial law and to lesser extend  emergency order on the verge, ruling by default...when the civilian govt or civilian authorities fail to function effectively, when there is no effective govt is form....
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    12-Jul-2011 17:19 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message
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    Hong Kong headed the fall by more then 3%. it is a difficult to dip below 3,000 unless Obama admin  is unable to handle U.S. debt, so is the congress....Aug 2 deadline.

    Market can be volatile till end of July and just B4 Aug 2, there after, DOW trading can enjoy a little more stability.

    See oso China monetary policies on thightening it fight against inflation and it interest rate, and on PIIG (EU), will hav some news on greece debt (news will neither be good or bad as greece must roll over their $340 billion debt.).

    http://www.nst.com.my/nst/articles/Chinainflationacceleratesto6_4_/Article/
    China June Inflation Rose 6.4%
    Nikkei 225  -143.61  9,925.92
        Hang Seng  -684.07  21,663.16


    risktaker      ( Date: 12-Jul-2011 12:10) Posted:

    BB are no fools. if we do see it break 3000 it means we are in serious trouble and everyone should dump our stock on hands. global economy cannot afford another double like i say. we will see some better reports by end of the week or early next week. it will prove us is just hitting a soft patch. BUY on Dip

    krisluke      ( Date: 12-Jul-2011 12:02) Posted:



    3050 (3020)  ... ...2950 ( time to accumulate !! !!!)
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    11-Jul-2011 23:21 Others   /   Aug 2, US-living on borrow time from debt disaster       Go to Message
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    " The European Commission said Friday Greece’s debt burden is set to rise to a staggering 166.1 per cent of gross domestic product (GDP) next year, amid strong market speculation that the country will be forced to restructure its debt repayments."

    The forecast, from the European Union’s Spring Economic Forecast, represented a nearly 20 percentage point rise from 2010, when the public-debt-to-GDP ratio in Greece stood at 142.8 per cent.

    teeth53      ( Date: 04-Jul-2011 20:33) Posted:



    http://sg.news.yahoo.com/p-warns-bank-plan-cause-greek-default-091623100.html

    Monday: A leading credit ratings agency warned. Greece would be considered to be in default if banks rolled over their holdings in the country's debt as proposed French. S& P said in a statement that two proposals by an association of French banks " would likely amount to a default" under its criteria because both options offer " less value than the promise of the original securities."

    S& P's position could wreak havoc on EU attempts to deal with the Greek debt crisis, especially if rivals Moody's and Fitch come to the same conclusion. A so-called " selective default" could trigger insurance claims on Greek bonds and cause another bout of turmoil in the financial markets.

    " A default is exactly what the European politicians want to avoid," said Louise Cooper, markets analyst at BGC Partners. " I imagine there are a lot of phone calls being made between the European political elite and the bosses at S& P."

    The French banks had said they were ready to help Greece by accepting a significant debt rollover as part of a second bailout for Greece. Germany's banks later said they were also considering helping out on similar terms as the French plan.

    teeth53      ( Date: 27-Jun-2011 15:14) Posted:



    In others words, get ready for more debt rolling over...Whether in time for in favour of PIIGs or in favour of lenders. Time shortly will tell.

    Failure to vote for austerity would, essentially, be a move to put the ball back in the court of Europe.

    If aid  of 12 billion is  to come in....the money will not last  after Aug  and the more debt will be needed (more loan is need) This time...A propose to ROLL over for 5 years.
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