There are some reports out of Europe that some countries want an Eurobond that would spread the risk equally over all nations in the EU. The Germans called this 'having a credit card guaranteed by Germany.' Another possible solution is to use a nation's gold to guarantee debt above 60% of GDP. This would certainly help Italy, but only if gold were revalued much higher.
Hmmm. Interesting.
Sunday, June 3, 2012
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