Thursday, November 25, 2010
More problems in the Eurozone
The article now introduces Belgium into the fray. Hasn't anyone learned yet that we can't all party while our investments in property rise giving us a chance to pay off our overweight Mastercard debts? Anyone heard of insolvency? Referring to Madrid, Jennifer McKeown,says: "Such concerns are understandable, given Spain's resemblance to Ireland. Public borrowing there surged during the recession after a property-fuelled boom. Its banks are fragile and sky-high unemployment and falling house prices point to a risk of further huge defaults on domestic loans".