Tuesday, November 23, 2010

RUBINI : AFTER PORTUGAL COMES SPAIN BUT THERE IS NOT ENOUGH MONEY. FRANCE IN BAD CONDITION. AND EVEN USA 2-3 YEARS TIME..


"But if Spain falls off the cliff, there is not enough official money in this envelope of European resources to bail out Spain. Spain is too big to fail on one side—and also too big to be bailed out."
With Spain, the first problem is the size of its public debt: €1 trillion. (Greece, by contrast, has €300 of public debt.) Spain also has €1 trillion in private foreign liabilities.
Roubini Maps Out Nightmare Scenario of Domino Debt Collapse in Europe

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