Greece Still on the Edge
Moody’s has done its job on Greece, but when will it honestly asses our ability to repay what we owe? Truth is, all the sovereign debt in the West deserves downgrade, but Moody’s only dares with Greece. Socialism has matured into collective bankruptcy in both Europe and North America. Even well meaning proposals to change our ways, like the Ryan Plan, sound like an alcoholic promising to cut back next year and quit completely twenty years from now.
Greek Default Risk Raised by Moodys – Bloomberg: www.bloomberg.com/news/2011-06-01/greece-s-second-….html