New Fund Gives You Early Warning of Europe’s Crisis
The fireworks in Europe are just getting started. Leaders and bankers across the Continent are playing the same “extend and pretend” game U.S. bankers have used with their mortgage portfolios. We’ve known all along the PIIGS countries (Portugal, Italy, Ireland, Greece and Spain) had unsustainable government deficits and would need bailouts. The question was (and still is) how the debt will be liquidated — and who will feel the pain. The next domino is Italy. Greece is relatively small in comparison. Consider these 2010 statistics from the CIA World Factbook: Greece Italy Note that on a per capita basis, Greece and Italy look about equally prosperous. Their debt/GDP ratios are also not far apart. . . . → Read More: New Fund Gives You Early Warning of Europe’s Crisis
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