Stock Markets and the Euro

BBC News: Reports that US and EU Stock Markets had another bad day to the worry over Greece and Spain. In the UK the FTSE 100 was down 1.33%.

Lets Get Real:

It can be argued with some justification that Western political leaders are fiddling while Euro burns. The G8 in Washington D.C is not expected to come up with any solutions. The only solution coming from the G8 minus Germany is that German tax payers bailout the Euro, this would include the PIIGS. That will go down like a lead balloon in Germany. The old solution is for Euro bonds to be under written by Germany, the problem is that German Basic Law states that Germany can not take on the debts of others, the German High Court has made it clear that it wont allow the German Chancellor to under write such bonds. Thus no solution folks, Spanish Banks have come under the spotlight, if Spain and Italy goes so does the Euro , the EU would not be that far behind. It is that drastic folks.