Bloomberg (May 17)
“A Greek default would be “highly destabilizing” for banks, causing losses that “far exceed” the size of their loans and investments there, according to Moody’s Investors Service.” European banks hold approximately €95 billion of Greek assets. Moody’s calculated direct possible losses on these assets at €34.4 billion.
Los Angeles Times (May 16)
“California is a test case for whether high-speed trains can succeed in the U.S. — and so far, the state is failing the test.” The Los Angeles Times endorsed the initial plan in 2008 and still believes the benefits will “outweigh the costs, and none of the $43-billion project’s troubles are insurmountable.” There are sensible proposals for bringing the project “back on track” and these should be adopted. The high-speed rail project should not be abandoned, but it does need to be fixed to succeed.
Tags: California, Rail, Trains, U.S.
