Monday, November 14, 2011
What About Spain and Portugal?
So we heard much about Greece and now Italy, with respect to Europe's debt crisis. Forgotten, it seems to me, is that the names we originally heard with respect to the crisis were Spain and Portugal. Won't it be time for their names to come round again once Italy is "solved," as we will undoubtedly be told that it has been? What does this mean? More shocks and more downward moves in the markets. Particularly, if politicians in these countries think they can make hay about pretending to resist the EU. I say "pretending" because these countries do not have much credibility when it comes to threats.