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Post by The Great Aztec Joe on Nov 7, 2011 10:49:37 GMT -8
Using the guarantee of endless German funds the powers that be in Europe have managed to prop up the Greek Domino. They have bought time by doing so.
So, there is still the Italian Domino. Financially, they will be a bigger drain than Greece is on Germany. I see Italy as the next domino.
Germany has the financial might to even stave off the fall of Italy, but they can not carry the burden of Spain, Portugal and Ireland.
So, I still see the current rotten European system failing. Just give it time.
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Post by The Great Aztec Joe on Nov 7, 2011 18:08:15 GMT -8
I doubt that Europe can avoid a collapse.
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Post by The Great Aztec Joe on Nov 7, 2011 18:29:29 GMT -8
Italy Nears Tipping Point as Its Bond Yields Spike By TOM LAURICELLA, MATT WIRZ and STEPHEN L. BERNARD With Italian bond yields surging higher, analysts said Italy is at the brink of being unable to afford to borrow in the public markets. Less than two weeks after European leaders unveiled an agreement that was designed to bolster confidence in the region, the yield on Italy's 10-year debt drew close to the 7% mark, a line in the sand of both practical and psychological importance to the market. online.wsj.com/article/SB10001424052970203733504577024463346484788.html |
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Post by The Great Aztec Joe on Nov 8, 2011 8:20:35 GMT -8
Berlusconi humiliated in parliamentary vote www.reuters.com/article/2011/11/08/us-italy-idUSTRE7A72NG20111108 Italian Prime Minister Silvio Berlusconi suffered a huge humiliation in parliament on Tuesday in a vote that indicated he no longer had a majority and ratcheted up pressure for him to resign. Berlusconi's government won a key budget vote after the opposition abstained but obtained only 308 votes compared with an absolute majority in the lower house of 316 votes. Opposition leader Pier Luigi Bersani immediately called on Berlusconi to resign |
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Post by The Great Aztec Joe on Nov 9, 2011 18:41:27 GMT -8
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Post by aztecwin on Nov 11, 2011 6:10:42 GMT -8
This is a nightmare of epic proportions. What was Germany thinking when they entered the EU?
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