Eurozone debt crisis spreads

[LC EFA]

European Union widening gaze as eurozone debt crisis spreads to Italy, Spain

    From: AAP
    July 12, 2011 7:56AM

EUROZONE finance ministers kicked off critical talks on a new rescue for Greece on Monday, but their meeting was being overtaken by severe debt crisis contagion in Italy and Spain.

With the fate of the single currency again in the balance, EU leaders and the 17 eurozone ministers were under pressure to overcome differences over a second Greek bailout to ease a threat of contagion to its third and fourth biggest economies, Italy and Spain.

Read more: http://www.news.com.au/business/breaking-news/european-union-widening-gaze-as-eurozone-debt-crisis-spreads-to-italy-spain/story-e6frfkur-1226092814441#ixzz1RpygvcUa

Yet the left will still continue to preach the virtues of the Euro model.

[docstew]

At what point do the adults in the EU (Germany, UK, and to some extent France) get to say "Enough, you don't have a right to retire at 45 or 50, get your lazy asses back to work."

Not that I'm complaining about watching socialism fail, yet again.

[bijou]

Thank goodness that the UK is not in the Euro. Another one is failing big time.

Moody's Downgrades Ireland From Baa3 To Junk

Submitted by Tyler Durden on 07/12/2011 15:29 -0400



Who would have thought a few years ago that Moody's would be one of the biggest supporters of the gold bulls...

Moody's Investors Service has today downgraded Ireland's foreign- and local-currency government bond ratings by one notch to Ba1 from Baa3. The outlook on the ratings remains negative.
 
The key driver for today's rating action is the growing possibility that following the end of the current EU/IMF support programme at year-end 2013 Ireland is likely to need further rounds of official financing before it can return to the private market, and the increasing possibility that private sector creditor participation will be required as a precondition for such additional support, in line with recent EU government proposals. ...

http://www.zerohedge.com/article/moodys-downgrades-ireland-baa3-junk

[thundley4]

Thank goodness that the UK is not in the Euro. Another one is failing big time.
http://www.zerohedge.com/article/moodys-downgrades-ireland-baa3-junk

Who would have thought that a Union of Socialist States would fail? 

[TVDOC]

Thank goodness that the UK is not in the Euro. Another one is failing big time.
http://www.zerohedge.com/article/moodys-downgrades-ireland-baa3-junk

Also thank goodness my "short sale" contract on the Euro doesn't expire until next month......I made 18% on my investment in the past two days......

Admittedly the investment's not huge, but if Soros can do it so can I........

doc