Originally Posted by Ethersync

Well, in all fairness Europe has mostly pointed the finger at the US saying they are the cause of this mess. The US did not make Western European banks become so overleveraged. It's even funnier to hear it come from the Brits since the US Federal Reserve (and ultimately the US tax payer) has been discreetlyt bailing out the Bank of England since last year (Dollar swap lines).

There is apparently over 16 trillion pounds of bad debt in the EU and most of the populace does not think the problem is anywhere near that big. People are going to be in for a surprise. It is not going to be pretty...