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Message Subject Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Poster Handle Anonymous Coward
Post Content
The US will not default on it's debt on the 2. august, but will get downgraded later to AA with negative outlook, because it is politically impossible to agree on politics that will actually reduce the debt, not only slow the pace of the increase in borrowing (reduce budget deficits.

Regarding EMU, it has so much prestige that the actors will do like they did last year, make it appear to the public (and the stock market) like they have a solution that will solve the problem once and for all. But the structural problem of deficits will of course remain as long as the EU is acting like the welfare office and police of the world.
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