I see they’re putting things on Germany again. Not very clever to allow the eurozone’s central bank to be on German soil. Now Germany’s got too much power.
There is only one real solution and that is default. To delay default is only going to cause more chaos than there already will be.
“It was no surprise that the AAA-rated five-year bonds recently issued by the EFSF to fund the bailout of Portugal were snapped up, with nearly half of the demand coming from Asian investors.”
“AAA-rated five-year bonds” This reminds me of triple A rated security back mortgages by S&P and Moody’s.
Easy - the strong countries break away from the spendthrift Socialst goofbal countries (I am looking at YOU Greece and Spain!) and go back on their own currencies.
I lived in Germany when the Euro currency took over - I knew it would be a disaster. I just didn't think it would happen this quickly.
Now we all sink on a single, massive ship.
Europe sold socialism for decades and has finally run out of other people's money.
Chickens, meet roost.
This is a glimpse of what one-world government looks like.
The dysfunctional states take everybody down with them.
It's interesting how this parallels the lending approach of a single bank.
A bank which carefully loans ONLY to qualified and responsible borrowers remains solvent. The bank which does not inevitably folds.
There is no puzzle. Stop the freakin spending. Stop bailing out countries that refuse to curtail spending. Let them swirl down the toilet. Put a bunch of tanks on their borders so the violence doesn’t spill over into other countries when the civil war starts. Let them riot until there is nothing left. Puzzle solved.