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Belgium To Join Piigs, Is It Now Bigpis?

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according to Nadeem Walayat......

Belgium, the PIGIBS Newest Member

Belgium could rank as the newest member of the soon to be renamed to PIGIBS debt bailout club, that could see its bond yields surge far higher than current rate of 3.70% over the coming weeks.

Belgium's debt situation would be nothing new to readers of my articles over the past year (walayatstreet.com), as the country remains in political limbo, unable to form a government 5 months after their general election as the country remains split between the Dutch and French speaking halves. Unfortunately Belgium's biggest industry is the bureaucracy of the European Union, without which it would have been ahead of Greece in terms of being an economic basket case. Belgium's debt has already passed above 100% of GDP, though this does not take into account Belgium banks exposure to the other PIIGS which amounts to Euro 22 billion just for Ireland alone so any PIIGS debt restructuring would hit Belgium hard.

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global-debt-crisis-country-bankruptcy-risk.gif

As a fan of both football and tennis, I'm glad to see we're ranked higher than Spain in something.

I would like to know how they came up with that chart.

I thought the banking industry was the more or less the whole of the Swiss economy?

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  • 153 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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