Bailout

Bailingout might be the most-used and most-hated word of 2009 and 2010, most-hated at least by those countries which have to pay the bailout bill. Last year governments in Europe and America had to bailout their banks. Now bailing-out has reached the highest ever form of preventing total and utter ruin: countries bailing out other countries. The bailout contenders in the moment of truth: Germany and Greece. The Germans - with utmost reluctance  and unwillingness - were forced to give billions to the Greeks because the Greek system had gone bust. It happened in April 2010.

There is one man who had predicted exactly that: Nouril Roubini, Economist. That was in March 2009! Time Magazine published his assessment.