European debt crisis spiralling out of control

[American]

Link

Fears that Europe's sovereign debt crisis was spiralling out of control have intensified as political chaos in Athens and Rome, and looming recession, created panic on world markets.

Reports emerging from Brussels said that Germany and France had begun preliminary talks on a break-up of the eurozone, amid fears that Italy would be too big to rescue.

Despite Silvio Berlusconi's announcement that he would step down as prime minister once austerity measures were pushed through parliament, a collapse of investor confidence in the eurozone's third-biggest economy sent interest rates in Italy to the levels that triggered bailouts in Portugal, Greece and Ireland.

Italian bond yields surged through the critical 7% mark, at one point hitting 7.5%, amid concern that the deteriorating situation had moved the crisis into a dangerous new phase.

Looks like the honeymoon is over.

 

[cpwill]

Greece is gone, Italy is gone, Spain and Portugal are probably also gone, and (though no one is talking about this) Japan is gone. The question is whether or not France will cut the tether fast enough, and whether or not we will be able to go through the political difficulty to poise ourselves to capitalize on it.

 

[American]

Greece is gone, Italy is gone, Spain and Portugal are probably also gone, and (though no one is talking about this) Japan is gone. The question is whether or not France will cut the tether fast enough, and whether or not we will be able to go through the political difficulty to poise ourselves to capitalize on it.

I read somewhere that Germany and France are talking about pulling out.

 

[cpwill]

:mrgreen: hehehehehe.....

 

[99percenter]

I assume conservatives will call obama a European socialist and blame him if this sends the world into a depression.

 

[Canell]

And Barroso said all EU countries have to accept the Euro. :doh

Uhh, why is this thread in the "2012 US Presidential election"?!

 

[MKULTRABOY]

And Barroso said all EU countries have to accept the Euro. :doh

Uhh, why is this thread in the "2012 US Presidential election"?!

Because... Europeans are liberals or something and this is funny because that means its obamas fault.

So its either here out of total political stoogery or because it's misplaced.

 

[cpwill]

I assume conservatives will call obama a European socialist and blame him if this sends the world into a depression.

well, he does want to take us in the direction of all the countries that are failing even more rapidly than we are.

 

[MKULTRABOY]

well, he does want to take us in the direction of all the countries that are failing even more rapidly than we are.

I thought the US started all this... and it's only not the apocalypse because of a socialization of private losses...

 

[Snapper Head]

The U.S. formed the EU & created the Euro??



Big Al

 

[danarhea]

The U.S. formed the EU & created the Euro??



Big Al

Yes, and we have a president that makes baby Jesus cry, so God is taking out his vengeance on Greece. In actuality, God was aiming his lightning bolt at Washington, but he missed by a few thousand miles. :mrgreen: