Guardian: Reports the following on the Eurozone crisis, “ Interest rates on Spanish and Italian bonds rose to well above 6%,….the beginning of the bailout process for Greece, Ireland and Portugal. ”. It could be this stark folks, the cost for Italy and Spain to secure their bonds could just be to much if they stay at the 6%, its simple folks, there is to much debt, not enough money coming in and the welfare state is growing due to the austerity packages followed by Italy and Spain, it’s a vicious game folks, the money markets demand that the Government cuts its debt, this means less Government spending, less growth, less jobs, thus more of a welfare bill. This is mess that has no easy answer, the only answer in the short term is to bailout out Italy and Spain before they take down the whole of Europe. Its depressing folks.
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