It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by TreX-UK
Deffitnaly the Begining of something but i doubt the EU will break up, more likely this will trigger the birth of new enitys of power IE cartels North american, south american,... and so on
only way for us to take the next step of society is to cast of the old ways and prey we come though better at the end...exciting times to be alive eh ?
Ireland’s plan to seek a European rescue risks escalating, rather than alleviating, the sovereign debt crisis as investors turn their focus to the high budget- deficit nations of southern Europe.
Ireland’s Nov. 21 decision to request emergency aid from the European Union and the International Monetary Fund did little to reverse the jump in borrowing costs. The extra yield investors demand to hold Spanish and Portuguese 10-year debt rather than German bunds rose yesterday. The spread between Spanish and Italian yields also widened, indicating investors see increasing threats for Spain compared with Italy.
Even as EU leaders said Ireland’s bailout will stem contagion in the euro region, investors are turning their attention to Portugal, which hasn’t cut government spending and has barely grown for a decade. A rescue of Portugal may increase pressure on its high budget-deficit neighbor Spain, whose gross domestic product is almost twice the size of Portugal, Greece and Ireland combined.