PIIGS Still Bleeding

While "austerity" is necessary, their government borrowing and spending dependent economies will crater without rescue, but any rescue is money forever gone, and subsidizes all that is wrong with their economies. They are just like us in that they are a socialistic system that has matured to the point of bankruptcy. We used to rescue countries like these, now we need rescue, and no one is big enough to do it even if they wanted to.
German ‘Nein’ leaves Italy and Spain in turmoil – Telegraph: www.telegraph.co.uk/finance/8631219/German-Nein-le….html

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