Thursday, March 31, 2011

One reason why the financial crisis is not over....chronic crisis? I hope not

Here is a good timeline of the problems facng the eurozone over the next week or so.  Basically, Ireland's banks are insolvent; Greece's banks are too; and so are Portugal's.  At some point denying this reality is not enough to keep the banks afloat.   But no one wants to put real resources toward the problem.
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2 comments:

  1. Dane CareyMarch 31, 2011 at 3:01 PM

    Seems like the UK made a good call by choosing not to adopt the euro.

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  2. Michelle MApril 2, 2011 at 10:14 AM

    Ha Dane that's very true... however as the article said, they are still facing old and new loan defaults from Portugal, Ireland, and Greece. This could potentially cause a stress on the GBP and future investments.

    And what about American loans? I'm sure we've given some out... we can't face any more debt than we already have...

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