Cause for Concern–The Italy-German ten year spread leaps to ANOTHER Euro-era Record High
Posted in
* Economics, Politics,
* International News & Commentary,
Credit Markets,
Economy,
Euro,
Europe,
European Central Bank,
Foreign Relations,
Germany,
Italy,
Politics in General,
The Banking System/Sector,
The Credit Freeze Crisis of Fall 2008/The Recession of 2007--
We are in a global sovereign debt crisis that is not going to remain limited to southern Europe. It is probably going to morph into a global currency crisis. Fasten your seat-belts folks, this is going to be very bumpy ride.
It has struck home for me for the first time in the last few days that the whole lot could go for the chop.
After this, it will only be the Chinese (and possibly the Germans) who will be left standing. Not bad – they will have been able to achieve world domination without firing a shot.