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Most governments around the world owe a fortune. But the Italian debt pile would make most others blush. Italy owes $2.3 trillion (€2.06 trillion) in public debt. That's around 133% of its GDP — a massive ratio that puts it in the top five in the world.
While the majority of that stock of borrowing is weighing down banks in Rome and Milan, European banks are severely exposed in the event of anything going wrong. France is in the hole for a potential €285 billion according to a study by Bloomberg, while German, Spanish, British and Belgian banks also have cause for concern.
What is Italexit (Italeave) Italexit, short for "Italy exit," also known as Italeave, is an Italian derivative of the term Brexit, which refers to the June 2016 United Kingdom vote to leave the European Union. Other countries with extremist parties that have acknowledged their own versions of the possibility of leaving the EU include France (Frexit), Austria (Oustria) and the Czech Republic (Czech-out).
originally posted by: Homefree
Argentina is a beautiful land.
Been thinking about heading that direction.
$2900 per hectare.
Not too pretty bad.
originally posted by: Spacespider
Money is a made up thing by humans
All of this in irrelevant..
originally posted by: FamCore
a reply to: toysforadults
US 30-year Ts are yielding 2.051%, an all-time low!
We'll be seeing negative interest rates by next year at this time
Zero Interest Rate Policy (ZIRP) won't be enough, even the Fed will start doing Negative Interest Rate Policy (NIRP)?
Japanification in the US... that should be making people really nervous (US budget deficit is also $1.09 Trillion for FY 2019). States like Illinois and municipalities are also going bankrupt (Pensions are getting slaughtered as well).
Where will we go from there? Choo-choo... the freight train is picking up speed :/
Greenspan, the former Fed Head, is playing the role of Paul Revere on the eventual ZIRP that both the Treasury and the Federal Reserve will be pushing upon the shriveled-up middle-class survivors that are clinging to the sides of the lifeboats launched by the Ship pf State
originally posted by: Fools
It had this same issue in the 1990's and yet it keeps electing the same crew as leadership from Buenos Aries.
I would kind of suspect that this time they may be a bit smarter next election cycle and pull off what Brazil has recently pulled off.