Default really would be the most honest thing Greece and Ireland (and the rest) could do right now. My guess is Ireland will default first and the sooner the better although Greece is currently stealing the headlines. Ireland has one of the youngest populations in Europe and comparably favorable demographics. Default now why you're young and can rebuild.
The alternative, the ECB's "No Banker Left Behind" program will have disastrous and potentially inflationary effects which will hurt the aging populations (like Greece) the most.
Hah! What excellent timing. Quick! Someone send Jennifer Aniston to Greece to distract those silly rubes from the fact their retirement plans are a scam.
Viteri said Ecuador will not look for new loans to finance the buyback,...
ReplyDeleteIt would've been perfect if they had.
Yes. I can't believe sovereigns don't get how easily they could play the debt markets.
ReplyDeleteDefault really would be the most honest thing Greece and Ireland (and the rest) could do right now. My guess is Ireland will default first and the sooner the better although Greece is currently stealing the headlines. Ireland has one of the youngest populations in Europe and comparably favorable demographics. Default now why you're young and can rebuild.
ReplyDeleteThe alternative, the ECB's "No Banker Left Behind" program will have disastrous and potentially inflationary effects which will hurt the aging populations (like Greece) the most.
I think they will end up defaulting. We are at August 2008 on the timeline right now.
ReplyDeleteThe PIIGS are Fannie/Freddie
ReplyDeleteApparently, Obama is popular in Ireland.
ReplyDeleteNo wonder they are too stupid to default on their debt. Rubes.
Hah! What excellent timing. Quick! Someone send Jennifer Aniston to Greece to distract those silly rubes from the fact their retirement plans are a scam.
ReplyDelete