The PIIGS EU Member States have significant debt issues. The ECB is 'addressing' this by providing bailouts. The amount given to Greece recently simply allowed them to pay off the amount owed on the interest... yet:
Portugal has $14 BILLION of gold reserves, Italy has $89.9 BILLION, the ECB $18.4. Ireland $2.1 BILLION... Greece? It is not clear but estimated at about $10 BILLION. Why are other nations having to bail them out? A simple logical observation.
Something that is not used has little or no value...
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