All The World's A Stage

The bank and regional debt problem is one the size of $350-400 billion in the fourth largest economy in Europe while their 12% contribution to the EU, the ECB and the stabilization funds will soon no longer be made I surmise. It is a squared problem then you see and a vindication of the notion that firewalls and fences do nothing to improve the health of the horses that are inside the corral. The animals are sick, infected by their own exacerbated standards of living which they can no longer fund internally given declining revenue bases as virtually every country in Europe, besides Germany for the moment, falters in recession. Hence you hear the cries and screams and the gnashing of teeth demanding that Germany picks up the bill but the size of the German wallet is not up to the task with a $3.2 trillion dollar economy that can only withstand so much.

By Tyler Durden