Europe is now facing a debt crisis so severe as to imperil the entire global financial structure, and they don’t know what to do about it. An agreement was reached in July to take a partial hit on the Greek default and try to manage the consequences, but now there are those who want to borrow more money to pay back the previous money they borrowed and cannot repay. Christine LaGarde, the Managing Dirctor of the International Monetary Fund, insists they stick to the July agreement, but there is no consensus. What will they do? Greece will likely default on October 15, and if they do Europe and the world will be standing with their backs to a waterfall and a T-Rex about to devour them.

 

 

Christine LaGarde

Is trying hard

To not hurt peoples’ feelings

She said let’s try

What last July

We said about debt dealings

Ah no said those

Who while morose

See not a sticky wicket

While others say

The USA

Upon them we can stick it

It’s Europe’s call

But waterfall

Now looks to be the winner

And one expects

That old T-Rex

Will soon be having dinner

 

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