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Should Greece be left to go bust? | | Mar 2 |
GIVING its broad backing to Greece's latest austerity package on Wednesday February 3rd, the European Commission nevertheless said the country’s government must do more to restore its finances, including further cuts in the public-sector pay bill. Although sounding tough in public, the EU's leaders have decided privately that they will have no choice but to bail out Greece if it proves unable to keep funding itself through the bond markets.
Their main worry is that if Greece fell into bankruptcy, contagion would spread to other indebted members of the euro such as Portugal, Spain and Italy, triggering a far larger crisis.
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Poker and the Financial Crisis
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The financial crisis hitting the world has caused many people to be worried about the future. Jobs are scarcer, incomes are lower and investments are, for some, entirely wiped out. Where does all this financial doom and gloom leave the world of poker?
The Financial Crisis and Big Live Events
If last year's World Series of Poker is any indication, poker players have a fair amount of insulation against the economic crash. The 2008 World Series of Poker main event saw 6,844 players satellite in or put up the $10,000 entry fee, resulting in the second largest main event field of all time, and a first place prize of over nine million dollars.
In addition, World Series of Poker spinoffs, such as the World Series of Poker Circuit Tournaments and the World Series of Poker Europe, are seeing plenty of success, with full table after full table for every event. Poker is still going strong in other parts of the world as well, on the European Poker Tour, in Macau poker tournaments and on the Asian Poker Tour.
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