How soon before the eurozone implodes? It seems events may be moving quickly. If Germany’s CDSs are rising, it can’t be long before the Germans decide to call a halt. They can only blame themselves for setting in motion the doomsday machine.
2 thoughts on “How soon?”
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lemmings can teach nothing 
well we’re a step nearer tonight – the terms of the IMF bailout are fresh off the presses and we’re going to be paying 5.8% on the IMF loan. Now by the time we’ve added up all the bailouts by my reckoning ireland will have a cool 1/4 trillion in public debt – pretty impressive for an economy with a GDP of around 140-150bn. Oh and theres still a heck of a lot of private debt as well. With that interest rate just do the math – our tax take is approx 32bn so we’ll be at 10+ bn in interest payments alone. Theres an old saying something along the lines of “if a trend cant continue it wont”. Ireland simply cant pay this bill – we have screwed up mightily but so have all the dumb ejiits who lent money to ireland and Im afraid they are going to have to share some – but importantly not all – of the pain
I can’t see that it will stop with Ireland. The doomsday machine continues to advance. Where’s Capt. James T. Kirk when you need him?