Nothing new, however, those numbers are not that much higher then ten years ago. Just the attitude towards it changed. Italy in 1999 had a much higher debt then today, for example. Nobody was bothered about it. And that is why this whole finacial hokus pokus is such a pervert affair, it's pure psychology, defined by speculators and rating agencies. Has nothing to do anymore with any kind of laid out rules or fixed margins. A simple rumor can decide about the solvency of entire countries now.
That said, I personally, and to be clear, I speak here for myself only, as a german I rather pay and try to make the EU work then drop back to the times of european national states with all that implies.
__________________
Cheers
Last edited by Bewolf; 01-31-2012 at 06:05 PM.
|