Patrick.net

Italy Trembling on The Brink

By GraooGra   Follow   Wed, 13 Jun 2012, 7:30pm   452 views   3 comments
In Thousand Oaks CA 91362   Watch (1)   Share   Quote   Permalink   Like   Dislike  

"A full-fledged bailout of Italy is a theoretical construct, anyway. As the third largest economy in the Eurozone, it’s too big to get bailed out by the Eurozone. Of the 17 member states, five, if Cyprus is included, are already being bailed out. Leaves 12, including teetering Italy, to pay for them. If Italy falls, the two major countries left standing to bail all of them out would be Germany and France. An impossibility.

[...]

The US had hundreds of years and a civil war to figure out how to manage its common good. The Eurozone is a group of 17 independent nations with ancient cultures. Uniting them into a federal arrangement will take decades, if it’s even possible. But the debt crisis is here now. Italy is running out of options. Spain is hopelessly in trouble. Greece has hit the wall. And turning that fiasco overnight into a healthy United States of Europe is an illusion.

http://www.zerohedge.com/contributed/2012-06-13/italy-trembling-brink

Viewing Comments 1-3 of 3     Last »     See most liked comments

1. GraooGra Follow Befriend 14 threads 232 comments

   1   7:35pm Wed 13 Jun 2012   Share   Quote   Permalink   Like (1)   Dislike   And here is the link to the funny video which explains everything: http://www.testosteronepit.com/clarke-and-dawe-european-debt

2. zzyzzx Follow Befriend (9) 416 threads 4,137 comments Baltimore, MD

   2   6:58am Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike   What idiot thought it was OK to include Italy in the Eurozone?

3. Vicente Follow Befriend (8) 204 threads 4,415 comments Davis, CA

   3   12:07pm Thu 14 Jun 2012   Share   Quote   Permalink   Like   Dislike   zzyzzx says What idiot thought it was OK to include Italy in the Eurozone? You think the Mafia waits for an invitation to anything?