European Debt Crisis, What’s Up With The PIGS? A Picture Is Worth A Thousand Words

Interest-Rates / Global Debt Crisis
May 09, 2010 - 07:22 AM
By: Charles_Maley

Once again, the media has many reasons (in hindsight) for the demise in Greece, Portugal and Spain, and of course are now forecasting how the situation will be resolved. Personally, I think this could be the beginning of the end for the Euro. Greece is the first test, but other European countries have problems, and the entire European Union are now called into question. Remember, the original goal was to unite different economies into one powerful trading block, with the Euro currency hopefully replacing the Dollar as the world currency.

Good luck with that.

What I thought was always in question, and is clear now, is the EU appears to be far less of a union than originally thought. The member nations are always fighting and their inability to come up with a unified response to deal with Greece’s troubles has proven that factions do exist despite the “front