Europe a Financial House of Cards Waiting to Fall

by Mike Coates
FBP
You would have to have been absent from the planet if you had not heard of the financial problems currently plaguing Greece. While Greece is a financial disaster, the debt accumlation of Greece pales in comparison to the mounting debt of Italy.


At present financial lenders are demanding 6.6 percent interest on money Italy needs to borrow just to keep their country afloat. According to financial experts, when Italy's cost of borrowing reaches 7 percent it could spell bankrupcy for Europe's third largest economy. 

There are valuable lessons to be learned on a personal level when it comes to debt. If countries can go bankrupt so can we all.

On a positive note anyone planning to visit Europe next spring or summer could find bargins galore as the Euro is expected to fall to e1.20 to the US dollar.

Source: The Greek Tragedy is Nothing Compared to the Italian Nightmare also see BNN Berman's Call.