The Euro member countries with the highest levels of debt (Greece, Portugal, and Spain) have another problem that restricts their ability to fight their current economic enemies…the Euro. Before the crisis, these countries experienced significant investment and a property boom resulting in strong economies and inflation that was higher than the other Euro member countries. …
Daily Archive: April 30, 2010
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Apr 30
Greek Impact
Potential Consequences of a Greek Default Whilst Greece is only a small part of the EU economy (it accounts for less than 2% in combined GDP of the sixteen EU member states) the potential default on its sovereign debt may have significantly greater ramifications… The largest holders of Greek Sovereign debt are the Greek banks. …
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