Posted on 05/17/2013 12:14:26 PM PDT by SeekAndFind
As Europe ends another week comfortably in the green (near all-time highs) - the short answer - not many...as the region's longest recession in history rolls on...
Norway is not in the EU. The other nations that have economic growth are relatively new EU members and not have been as subjected to EUs bad Free Trade and socialist redistribution policies
RE: not have been as subjected to EUs bad Free Trade and socialist redistribution policies
But now that they are members... what happens next??
Is Kosovo?
You guessed it. They turn from green to blue to red. Italy and Spain will bleed what they can from Latvia.
I’m currently on Malta, vacationing. Joining the EU forced all the Maltese mattress money (Lira) out into the open, prior to the switch. Most of it got poured into real estate development, and a lot went into gold. Tourism is very strong, and the banking sector is well capitalized.
The big worry here is the flood of Russian money seeking a safe haven, buying up everything and driving up prices. Will the bankers here grab the gelt as the Cypriot bankers did if things get tight? Hard to say, but there’s little love for the Russkies amongst the general population.
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