Scary stuff:
http://edition.cnn.com/2011/BUSINESS/06 ... index.html
European Debt
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Kulaf
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Ddrak
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Re: European Debt
As a reference, the US is at 62.2% as of 2010 and will go higher for 2011. Japan is at 197%!
At the other end, China is 18.9% and Russia 9.0%. Australia is 26.6% but I don't believe that's a useful indication for other reasons (becoming the world's mineral whore isn't a good long-term strategy).
http://en.wikipedia.org/wiki/List_of_so ... ublic_debt
The whole debt-based economy thing is starting to come back to bite. Not that debt itself is a bad thing but it has to be managed. As for the Euro - not sure what will happen. Germany and France want the other countries there to devalue the overall currency and prop up their exports and they want them to stay weak, but not so weak that they have to be bailed out all the time.
Dd
At the other end, China is 18.9% and Russia 9.0%. Australia is 26.6% but I don't believe that's a useful indication for other reasons (becoming the world's mineral whore isn't a good long-term strategy).
http://en.wikipedia.org/wiki/List_of_so ... ublic_debt
The whole debt-based economy thing is starting to come back to bite. Not that debt itself is a bad thing but it has to be managed. As for the Euro - not sure what will happen. Germany and France want the other countries there to devalue the overall currency and prop up their exports and they want them to stay weak, but not so weak that they have to be bailed out all the time.
Dd
