Seeker Blog
We think the key to the situation is Spain. Spain is key, given that it accounts for 11% of Euro-area GDP (65% larger than Portugal, Ireland and Greece) and that there are $876bn of foreign bank assets in Spain according to the BIS (75% of ...
- Greece → Ireland → Portugal → Spain → Italy → UK - zero hedge - on a long enough timeline, the survival rate for everyone drops to zero
- Euro Fatally Wounded by Serial Sovereign Debt Bailouts - The Market Oracle
- Opinion: Germany can't afford to pull the plug on the Euro - CleanMPG.com - News Feed
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