The overnight markets were all giddy about the notion that Greece will be saved for the umpteenth time. I have a set of questions: How can it possibly matter?
What about Ireland?
What about Portugal?
What happens when Spain needs a bailout?
What happens if the markets lose confidence in Italian debt?
Further problems in Ireland, Portugal, Spain, and Italy are all highly likely, and the first three are a given. So does, it matter that Greece is saved?
By the way, IS Greece saved? How many times can a country be saved?
In case you missed it on this long holiday weekend, please consider Europe at the Abyss; US Housing in the Abyss; Who is to Blame? for a look at structural problems facing Europe and the US and who is to blame for them.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List
Subscribe to:
Post Comments (Atom)
Popular entries
-
As Europe’s leaders struggle to convince markets that their Greek debt problem-resolution-proposals are actually viable, and will really do ... -
Basically, following up on this post earlier this month I wish to report that the 3 month euro libor rate is still stuck where it was, way ... -
China has its fingers in nearly every aspect of global financing as the following articles show. San Francisco-Oakland Bay Bridge Now Made i... -
There is indeed a 100% guaranteed safe way to own gold and silver. But before addressing how, a basic question must first be addressed: Why ... -
With the timing of the latest G20 meeting set to coincide with the run-in to the German elections acrimonious debate has not been absent , b... -
Europe's manufacturing and service industries contracted in September at the fastest pace in nearly seven years as continuing problems i... -
Bloomberg is reporting EU Renews WTO Complaint Over U.S. `Zeroing' Practice . The European Union wants World Trade Organization judges t...
-
Why have routine (and not so routine) medical and dental services performed in the US when you can have them done cheaper elsewhere and get ...
-
Reader Jeddy spots what he thinks is a conflict in my typical "privatization" message and inquires Hello Mish I'm confused abo...
-
Equity futures are down sharply in Asia, Australia, Europe, and the US in conjunction with data that shows manufacturing in China is barely ...
Posts
