Greece is not the problem - Try Italy!
07 November 2011, 01:19 PM
#1
Scooby Regular
Thread Starter
iTrader: (2)
Join Date: Apr 2004
Location: Somewhere in Kent, sniffing some V-Power
Posts: 15,029
Likes: 0
Received 0 Likes
on
0 Posts
Greece is not the problem - Try Italy!
Considering Greece only makes up around 3% of the eurozone economy, shouldn't we be more worried about Italy which is the third largest eurozone ecomony behind France and Germany?
118% GDP, 6.05% interest rates on anything it borrows now and a 0.75% yearly growth rate since 1991 really doesn't install confidence.
Is Greece the biggest problem in Europe?
Or is it the contagion that most people are worried about?
118% GDP, 6.05% interest rates on anything it borrows now and a 0.75% yearly growth rate since 1991 really doesn't install confidence.
Is Greece the biggest problem in Europe?
Or is it the contagion that most people are worried about?
07 November 2011, 01:20 PM
#2
Scooby Senior
Join Date: Dec 2000
Location: North Wales
Posts: 5,826
Likes: 0
Received 0 Likes
on
0 Posts
Italy is just managed badly, it does actually have industry and the ability to generate wealth.
Greece on the other hand has, er, olives and ouzo. Can't seem then re-paying their debt with tourism!
Geezer
Greece on the other hand has, er, olives and ouzo. Can't seem then re-paying their debt with tourism!
Geezer
07 November 2011, 01:25 PM
#3
Scooby Regular
Thread Starter
iTrader: (2)
Join Date: Apr 2004
Location: Somewhere in Kent, sniffing some V-Power
Posts: 15,029
Likes: 0
Received 0 Likes
on
0 Posts
Better sell more F458's!
07 November 2011, 02:55 PM
#4
Scooby Regular
iTrader: (1)
Join Date: Jan 1999
Location: UK
Posts: 15,271
Likes: 0
Received 0 Likes
on
0 Posts
Cough!
...Italy
Italy has always been the real problem.
Issue with Greece is
a) it defaults or leaves the Euro
b) the markets then start to bet on who is next - Italy is the prime candidate.
New market phrase - Too Big To Bail
...Italy
Italy has always been the real problem.
Issue with Greece is
a) it defaults or leaves the Euro
b) the markets then start to bet on who is next - Italy is the prime candidate.
New market phrase - Too Big To Bail
07 November 2011, 04:23 PM
#5
Guest
Posts: n/a
Italy is one of the reasons Sarky is so keen to stop countries defaulting as French banks are into Greece AND Italy in a VERY big way. Oh, and he has an election coming up ...
At least we now see the EU for what it is. Totally undemocratic and entirely divorced from the man in the street.
Dave
At least we now see the EU for what it is. Totally undemocratic and entirely divorced from the man in the street.
Dave
Trending Topics
08 November 2011, 11:58 AM
#8
Scooby Regular
Join Date: Aug 2002
Posts: 39,877
Likes: 0
Received 0 Likes
on
0 Posts
Italy is one of the reasons Sarky is so keen to stop countries defaulting as French banks are into Greece AND Italy in a VERY big way. Oh, and he has an election coming up ...
At least we now see the EU for what it is. Totally undemocratic and entirely divorced from the man in the street.
Dave
At least we now see the EU for what it is. Totally undemocratic and entirely divorced from the man in the street.
Dave
Les
Thread
Thread Starter
Forum
Replies
Last Post