Guardian: Reports that the bond market has shown that it has great concern about Spain and Portugal following the footsteps of Ireland. As noted in NYT a few weeks ago there is the worry that Ireland, Spain and Portugal will have to be bailed out at the same time. The question that has to be asked will the German tax payer be willing to bailout all three countries. There comes a point when you have to say NO, and restart the structure from scratch and write off the debts. The Bond market would take this hit not the tax payer, in this process the EU just might be saved, also the Euro just might breath for a few more years, do the politicians have the nerve to be that bold.
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