I’ve found some interesting reading material on the European debt crisis. The markets are completely obsessed with this rightly or not. I’m equally obsessed, I have to admit so enjoy these musings by Pension Pulse
FRIDAY, SEPTEMBER 16, 2011
Beyond the European Debt Crisis?George Soros wrote an excellent comment asking, Does the euro have a future?HT: Steve:The euro crisis is a direct consequence of the crash of 2008. When Lehman Brothers failed, the entire financial system started to collapse and had to be put on artificial life support. This took the form of substituting the sovereign credit of governments for the bank and other credit that had collapsed. At a memorable meeting of European finance ministers in November 2008, they guaranteed that no other financial institutions that are important to the workings of the financial system would be allowed to fail, and their example was followed by the United States.