Italy and Spain will remain under pressure. Nobody has the money to save them or to recapitalize the banks again when the big deficit countries lose access to the market and fail.
Post Tagged with: "Greece"
October 25, 2011 05:36
Greek Trader Tells Us The State Of Things, And Explains Why The Worst Is Yet To Come
The painful part of austerity hasn’t even hit yet, nobody in Europe has any idea what’s going on, and social strife, if it seems bad now, will become a daily issue.
October 19, 2011 06:12
Kiss the European Union Goodbye
The problem of the EU and the euro “is the loss of an independent monetary policy” because what works for Germany does not necessarily work for France, Spain, Italy, and the other EU members.
October 19, 2011 05:47
Greece general strike begins over spending cuts
The strike for Wednesday and Thursday has been called by the two big unions that cover public and private sector workers. – BBC
October 11, 2011 09:17
Double-Dip Recession a Foregone Conclusion: Roubini
“The question is not whether or if there is going to be a double dip, but whether it’s going to be mild or severe with another financial crisis,” Roubini told CNBC
October 6, 2011 15:02
Is U.S. Duplicating EU’s Debt Mistakes?
At $14.9 trillion, our total public debt is also bigger than our economy, putting us on a par with Europe. Yet our government seems in no hurry to reform our own welfare and entitlement state.
October 5, 2011 04:35
Economic Armageddon Seen As Imminent
Suddenly it is getting crowded in the world of those predicting economic Armageddon. In a sense, that is comforting for those of us who were early and few. Once relegated to the lunatic fringe, it appears as though this view is expanding, possibly even going mainstream.
October 3, 2011 06:07
Shares fall as Greece says it will miss deficit targets
Share indexes in London, Frankfurt and London opened between 2.5% and 3.5% lower. Asian stocks also fell. – BBC News
September 29, 2011 08:36
The EU robs our children – British MEP
And the Debtocrats led by Obama are robbing American children. British MEP Daniel Hannan on the lunacy of borrowing yet more money on the backs of future generations.
September 26, 2011 08:15
Goolsbee, Geithner warn – Greek default big trouble for US – IMF begs for bailout funds
Obama’s former economic adviser Goolsbee warns that Greek default will have a big impact on the US while the IMF needs a bailout to bailout Greece. Treas. Sec. Geithner warns “Sovereign and banking stresses in Europe are the most serious risk now confronting the world economy.”
