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Old 03-06-2010, 01:26 PM   #1
Avalon Senior Member
Join Date: Dec 2009
Location: New York City
Posts: 40
Default Demise of EU and euro

Sovereign Debt Spiral


The Greek debt tragedy currently unfolding may be the canary in the coalmine to the ultimate unraveling of the European Union.
The weapon of mass destruction is public-private partnerships. The special entities where private industry takes loans out for government projects and the sovereign entity become guarantors of the loan. As the European countries struggle with their budgets the PIIGS (Portugal, Italy, Ireland, Greece and Spain) are seeing an explosion in monetary exposure to these public private guarantee of notes.

mgray is offline   Reply With Quote

euro, european union

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