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Italy Next to Seek EU Bailout: Wealth Manager

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posted on May, 11 2011 @ 02:57 AM
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Looks like Italy may be the next one on the bailout block:

www.cnbc.com...



"They (the banks) have been buying between 60 and 90 percent of the bonds issued in recent years. And the way the balance sheet is developing in the Italian banking system, they won't be able to do that, and I wonder who will buy those bonds," he added.




"The EU is trying to dictate a very severe austerity program…and that will lead to a lengthy recession, I would call it a depression, and we will see later this year that Italy, Spain and virtually all the peripheral countries will be in negative growth again," he said.


A bit of sobering food for thought.




posted on May, 11 2011 @ 03:01 AM
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reply to post by notsofunnyguy
 

Looks like the USA and the EU are in a race ..to the bottom. The EU attempt to put such divergent countries on a single currency should be the lesson in failure the globalists need to see how a global system will fail. Of course they will not see it, we never seem to learn from history.



posted on May, 11 2011 @ 03:33 AM
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I know Greece is in the Euro but what would happen if Greece said We're off doing an Iceland? Is it possible for Greece to go it alone or is it so tied into the Euro zone or the bankers that no country can do anything but stay put?



posted on May, 11 2011 @ 05:37 AM
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reply to post by Lynda101
 


There was a thread about Greece possibly separating a few days ago:

www.abovetopsecret.com...

If I remember correctly, there was debate about whether the original article was factual or not, I'll let you be the judge.



posted on May, 11 2011 @ 06:38 AM
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This is quite surprising i thought Spain was going to be next and i wasn't the only one. Oh well one by one we are all collapsing, but hey! Eurovision song contest is on on Saturday!



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