Europe Continues to Illumine our Future

When you carry mountains of debt, a small increase in the rate of interest you pay can overwhelm your budget, which is why our Fed plays the dangerous game of interest manipulation it does. Ultimately these bailouts are all about the banks, as the following quote says: "We are exploring several possibilities. If we continue down the current road, all private debt in Greece will be converted into sovereign debt and we will have bailed out the banks,"…
ECB tightens noose on Southern Europe – Telegraph:….html

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