Share on Google Plus Share on Twitter 5 Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend (5 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Stats   1 comment

OpEdNews Op Eds

At Risk Eurozone Sovereign Credit Ratings

By (about the author)     Permalink       (Page 3 of 3 pages)
Related Topic(s): ; ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It Headlined to H3 11/30/11

Become a Fan
  (191 fans)
- Advertisement -

Besides what Eurozone countries have to refinance next year, banks have to roll $720 billion of their own at high rates. Moreover, troubled sovereigns need around $6 trillion to avoid default. Solvent countries can't provide it without going broke. Neither can the Fed, ECB or IMF.

Capital flight is also an issue. In 2011, Greek banks lost 20% of their deposits. Will Italian and Spanish ones be next? Smart money says so. World leaders grope for solutions. Good ones aren't being chosen "The situation is unsustainable," says Chapman.

If troubled Eurozone sovereigns default, or just Italy and/or Spain, "US banks cannot possibly stay solvent." Knock-on contagion will crush them. All 27 EU nations are at risk. So are others globally. "This as we predicted has no solution."

Weaker states will be cut loose. The euro will be phased out. Article 123 of the EU Treaty prohibiting ECB financing is illegal. Sticking with treaty provisions assures collapse. Germany won't abandon the system. Instead, they'll drop weaker states and hope others hold together.

Worsening conditions assure damned if you do or don't outcomes. Ordinary people will be hurt most, including in stronger nations like Germany. End game trouble's approaching at a faster clip.

Stephen Lendman lives in Chicago and can be reached at Email address removed

- Advertisement -

Also visit his blog site at and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening. .                                 

- Advertisement -

Next Page  1  |  2  |  3


I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

Go To Commenting

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles
Related Topic(s): ; ; ; ; , Add Tags
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert


The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
1 people are discussing this page, with 1 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

When Rome collapsed we went into the dark age. The... by Theresa Paulfranz on Wednesday, Nov 30, 2011 at 11:17:21 AM