Quote:
Originally Posted by cykoe6
I follow this issue very closely and there is no doubt that Western Europe's massive exposure to bad debts in Eastern Europe is leading to a potential catastrophe which could result in the end of the Euro. The situation in the Baltics is extremely desperate and getting worse every day. Latvia's sovereign debt was just downgraded to "junk" status last week. The IMF does not have enough money to bail out every country in Eastern Europe. Massive defaults are very likely all across the board.
http://www.telegraph.co.uk/finance/c...-meltdown.html |
Quoting the telegraph for Monetary issues is like trying to get an unbiased opinion from foxnews.
Both articles in this thread have been written by Ambrose Evans-Pritchard, a man who spend his whole career campaigning against the euro.