The Euro zone is in trouble. Hungary pulled the sale of their public debt in three-year bonds. Could not afford the yields over nine percent. Meanwhile, Standard & Poor’s downgraded Hungary’s bonds to junk status.
‘Too big to fail’ is one thing. Try this, ‘Too big to save.’
The teachable moment here is, unless we turn this ship around, you’re looking at our future by looking at the economic situation in Europe today. Good too for the Brits continued refusal to adopt the ‘solution’ the European Union has in mind. It’s best not to board a ship while it is sinking. Besides, they have their own problems.
