It has been an easy conversion for some countries to adapt their old currency and debt to the new currency. This is unrelated to any debt or deficit in the USA. The 'mind speak' about these countries in the political sphere has been an 'adult-child' dialogue whereby sovereign authority is suppose to be ashamed of their past behavior.
I don't think so. Modifiying the spending NOW is important and bringing their debt and deficit under control as a portion of their GDP cannot be understated, but, there is no shame here. This is a currency problem and it will work out. I have no problem with debt holders getting less on the dollar for their VENTURES. Holders of sovereign debt have to know there are dynamics at work that involved human beings and their relationship with their government. There is risk. Oh, well. Sovereign debt is exactly that. These debt holders will bearly feel the pinch from the gobbs of money they have already made as the Greek debt is restructured.
...U.S. stock futures rose early Friday as borrowing costs for Italy and Spain declined, a signal that the European debt crisis might be easing.
Spain and Italy have had to pay high interest rates because bondholders fear that that they will default. Holders of Greek bonds were all but forced to take steep losses on that nation's debt.
Fears about the European crisis sent stocks lower this week. Even nations with relatively strong finances, such as France, are being forced to pay higher interest rates....
I don't think so. Modifiying the spending NOW is important and bringing their debt and deficit under control as a portion of their GDP cannot be understated, but, there is no shame here. This is a currency problem and it will work out. I have no problem with debt holders getting less on the dollar for their VENTURES. Holders of sovereign debt have to know there are dynamics at work that involved human beings and their relationship with their government. There is risk. Oh, well. Sovereign debt is exactly that. These debt holders will bearly feel the pinch from the gobbs of money they have already made as the Greek debt is restructured.
...U.S. stock futures rose early Friday as borrowing costs for Italy and Spain declined, a signal that the European debt crisis might be easing.
Spain and Italy have had to pay high interest rates because bondholders fear that that they will default. Holders of Greek bonds were all but forced to take steep losses on that nation's debt.
Fears about the European crisis sent stocks lower this week. Even nations with relatively strong finances, such as France, are being forced to pay higher interest rates....
