Deckard Posted January 19, 2009 Share Posted January 19, 2009 http://www.bloomberg.com/apps/news?pid=206...&refer=home Jan. 19 (Bloomberg) -- Spain had its AAA sovereign credit removed by Standard & Poor’s in the second downgrade of a euro- region government in five days, as the country’s first recession in 15 years swelled the budget deficit. More to come, this is just the beginning for the Eurozone. EU Sees Euro Area in Deepest Slump in 10-Year History http://www.bloomberg.com/apps/news?pid=206...&refer=home Quote Link to comment Share on other sites More sharing options...
kilroy Posted January 19, 2009 Share Posted January 19, 2009 can't see how the Euro or Eu will survive long term.once the PIGS leave the euro,it'll start winding down.the whole shebang rel;ies on politicians being willing to subjugate national interests for the greater good and that's just not gonna happen when they're facing angry electorates at election time. If the PIIGS leave, it will leave a better quailty economies at the core plus I am guessing euros will go out of circulation as they are exchanged for the new (old) currencies. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted January 19, 2009 Share Posted January 19, 2009 Not really a surprise is it? Quote Link to comment Share on other sites More sharing options...
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