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Europe Debt Crisis May Boil to Surface This Week

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posted on Mar, 8 2011 @ 06:39 PM
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Europe Debt Crisis May Boil to Surface This Week


Europe's sovereign debt crisis could rear its ugly head this weekend.

So far this year, investors have been pretty relaxed about the PIIGS—debt-ridden Portugal, Italy, Ireland, Greece and Spain—because the market believes Europe’s politicians will deliver a "grand solution".

To be precise, that by their March 24 summit, EU leaders would confirm they’re pouring billions more into EU bailout funds, while enabling PIIGS to borrow more cheaply and even buy back their own debt

But the moment of truth may be far closer. In fact, Friday.


Read more here:

www.cnbc.com...



Well, it seems that the countries that saved and took caution are finally getting tired of backing up other countries that spent and spent beyond their means (well, the banks anway) I assume that most people here on ATS knew this was going to happen sooner or later. We are in a debt cycle, there is no way that countries like Greece and Spain can agree to a cap of deficit spending - they either spend or crash and burn.

So here is it in a nutshell, the EU is showing signs of self destruction (that the powers that are trying to hide)


edit: As an interesting little side not, the NYSE is connected with Europe - funny how the dots connect.


edit on 8-3-2011 by MidnightTide because: (no reason given)




posted on Mar, 8 2011 @ 06:55 PM
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I don't want to start another Lindsey Williams thread, but:

The following is from December 2010 well before the current Middle East problems.



Lindsay Williams-- Euro bust imminent, $ to bust a month later, Gas heading to more than $5 a gallon--


www.rumormillnews.com...

So if the Euro is really close to collapse, it means the dollar is not far off. Oil is on its way to 150+, The Fed is mumbling about QE3.



posted on Mar, 8 2011 @ 07:01 PM
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reply to post by EssenceOfSilence
 


Yeah But Lindsey didn't give a time frame for the Euro failing. But he is still right. I Thought I had heard it happening in June myself but there ya go.



posted on Mar, 8 2011 @ 07:07 PM
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reply to post by MidnightTide
 


Well it's about time. And, if in some countries, like EIRE, and Iceland, the Banks have some, if not most of the blame, they are not to blame in most others.

In the Mediterranean Countries most of the blame has to be assumed by a "new-rich" mentality, on the part of the population, and irresponsible Governments, fulled by unplayable loans from the Rich Countries of Europe. These rich countries, apparently having learned nothing from History, actually though these countries would use said money to invest, better their usable infrastructures, increase economy growth, and an better their social, and economic competitiveness.
Instead, the money went into unsustainable socialist agendas, widespread corruption, and what I like to call a "Fiesta Mentality", on the part of a Population, suddenly possessed by Megalomaniac drives...

The Party is Over!
The Banks, in most cases, can't be blamed for every irresponsible Government, and Society.

To the Countries of North, and Central Europe, that actually thought they where investing money, in a sound manner, to better their lazy, poorer, brethren, I would just like to say



posted on Mar, 8 2011 @ 09:28 PM
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reply to post by American-philosopher
 


Last I heard from him (on his last Coast to Coast Visit, about a week ago) he specifically mentioned March 11th, so yeah he did mention a specific date. For the record, he's a great interview but I'm not entirely sold on him yet, guess we will see on March 11th. Though, it wasn't necessarily the Euro Falling, but it would fit in with his theme.
edit on 8-3-2011 by croweboy because: (no reason given)



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