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| Re: EUEUEUEUEU is *this close* to bringing down US/global economy (896827) | |||
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Re: EUEUEUEUEU is *this close* to bringing down US/global economy |
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Posted by ClearAspect on Sun Jan 8 20:54:24 2012, in response to Re: EUEUEUEUEU is *this close* to bringing down US/global economy, posted by Olog-hai on Sat Dec 3 03:06:59 2011. Italy has been at even higher debt than what it is now, during the 90s they hovered around 120%. Fear is driving a lot of this, which compounds the situation, including ratings agencies. Makes bonds more expensive, makes it harder to pay off, its a suicidal cycle to pay off debt, its cheaper and less painful to abandon the Euro, declare default, and rebuild your currency which will be cheap allowing for cheaper exporting which will allow manufacturing to come back. 2.5 trillion is a bitter pill to swallow but overall for Italy its the best scenario. |
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