Eurozone leaders backed a ten year plan that would give an EU treasury powers over national budgets. The plan uses vague leftist socialist code words that could be interpreted to justify just about any decisions made.
Post Tagged with: "European banks"
December 13, 2011 11:40
17 Signs That The European Financial System Is Heading For An Implosion Of Historic Proportions
The easiest way to deal with a debt spiral is to let it keep going and going. That is what the United States has done. Sure, “kicking the can down the road” makes the crisis much worse in the long run, but bringing the pain into the present is not a lot of fun either.
December 13, 2011 06:16
Coming Depression Will Lead To The Collapse Of The Euro
“I think the periphery goes into depression. When you look at a country like Greece, it’s now been in recession for three years. GDP is probably down 15% from the top. The stock market is down 90%, which is the equivalent of 1929 to 1932 in the US. This is depression-like. – Business Insider
December 5, 2011 08:34
Bank Runs?
With the situation in Europe deteriorating and the increasing recognition that there is no solution, capital will leave these banking systems as well as flee the countries involved. If you fear bank failure, you take your cash out. If you fear currency failure, you put your money into safer currencies, preferably outside of the country.
