Posted on 11/09/2011 4:16:54 PM PST by bruinbirdman
Yep, that's my prediction...though time is running short.
Agreed. The overspending will stop with defaults, and we can only prepare ourselves.
Some countries like Ireland might, but Italy was done in by the fear of bond investors, especially after the 50% non credit event Greek haircut. If they can't guarantee that you will get your money back, and can't insure against that with CDS, they stopped buying, which raised rates on Italy so high so fast, it made the Greek deal irrelevant before it was even begun to be implemented.
Just so there’s no confusion, I was talking about your sidebar link. :’)
Believe it or not, I’m not concerned about Eurozone debt.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.