[economist-student]

The euro is also a doomed currency. Hyper-valuation in housing in Spain (I believe, it's the biggest RE bubble in the world) makes it harder for the ECB to continue tightening interest rates.

In fact, Europe just posted its first global current account deficit (Spain has the biggest current account deficit in the world percentage-wise)

[ARCADIA]

They are, and so are we. An economy based entirely on cheap debt is unsustainable. We are stuck between a housing bubble and rising energy costs and the clock is ticking.