It is a week more or less since my last post here and news from the eurozone have become even worse, if that is possible. Greece is in disarray and now Italy has entered danger zone. Today Spain seems to be also approaching day by day the danger zone. I wonder if this will happen in some days or just in some weeks.
So we all know all this is bad news: Greece, Ireland, Portugal and now Italy in the queue with Spain also near.
So I just have a worry. All this that has happened has been too bad for the eurozone. But until now we had the bailout countries, the countries with debt problems and then we had Germany.
My worry is that Germany may also fall. Not tomorrow but maybe in one year or two. If this ever happens then I think that Europe would be entering again a darker period of its history.
Some years ago nobody imagined the current situation. So I don’t think it is impossible now anything.
I just hope that even if Europe breaks apart at least some part of Europe remains strong. Maybe it is time not to think about Germany helping the rest of the eurozone but helping Germany to resist.
- Europe is paying for its past excesses: European interest payments as % of GDP. (thepathtotyranny.wordpress.com)
- Italy: Definitely too big to fail, maybe too big to bail (money.cnn.com)
- Investors ditch the eurozone amid Italian debt meltdown (telegraph.co.uk)
- GAME CHANGER: France And Germany Have Discussed A Smaller, Core Eurozone (businessinsider.com)