Sorry about the flood of topics-- there are just a lot of discussion worthy events coming out of the euro problems.
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May 11 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke told U.S. senators today that the euro region’s almost $1 trillion aid package to stem its debt crisis isn’t a cure- all, according to a participant.
“He said, ‘This is basically not a panacea,’” and that the measures are “temporary,” Alabama Senator Richard Shelby, the senior Republican on the Banking Committee, told reporters in Washington after a closed-door briefing Bernanke held with the panel.
“There’s got to be fundamental underlying changes in their economies, not just Greece, but a lot of other countries,” Shelby cited Bernanke as saying....
The challenge stemming from debt-laden governments in Europe probably poses the main risk to U.S. growth, Lacker said, responding to audience questions after a speech. “It’s not clear that it’s going to have any effect at all so far, but it has the potential to, in broad terms,” he said.
http://www.bloomberg.com/apps/news?pid=20602096&sid=aHKewxscnhg4