Europe In Big Trouble

Europe Woman Riding Beast

PIGS is short for Portugal, Ireland and Italy, Greece, and Spain. With Italy at this moment under fire Greece and the others look downright stable. The big question is pending now is will the Euro survive and if not want, what effect it will have in the US if it collapses.. Big, you can bet on it.


Pain returns to Spain as yields jump

Spain was in danger of resuming its place at the forefront of the European debt crisis Monday as banks sought to trim exposure to sovereign debt, economists and strategists said.

Read The Entire Article


Italy on brink as 10-year bond yield tops 7%

FRANKFURT (MarketWatch) — Investors dumped Italian government bonds on Wednesday, leaving the nation in danger of being shut out of credit markets and underlining fears that European authorities remain unprepared to take on the sovereign-debt crisis, threatening the survival of the euro currency.

The yield on benchmark 10-year Italian government bonds IT:10YR_ITA -0.48%  was seen at 7.07% in recent trades, according to FactSet Research, up 67 basis points from Tuesday and above the 7% level viewed as a crucial threshold. The yield spiked to more than 7.4% in earlier activity.

Read The Entire Article

Mother Jones

Italy Is Now the Biggest Story in the World - Kevin Drum

Well, that was quick. When I wrote about Italy's unsustainable bond yields on Monday, rates stood at about 6.8 percent, just below the Oh Shit threshold of 7 percent that's unanimously believed to spell certain doom. Above that point, even higher yields aren't enough to attract buyers, Europe's main clearinghouse will start to require higher collateral for Italian bonds used in repo trades, and traders will start panic selling, which would send rates spiraling even higher. That kind of panic is self-fueling, and once it starts it can destroy its target within days. And now it's started:

Read The Entire Article

Washington Post

Greek lawmakers break with PM over bailout - Michael Birnbaum

ATHENS — Opposition from within Prime Minister George Papandreou’s governing party may derail his proposal for a national bailout referendum, which has halted the flow of European aid to Greece and endangered its participation in the euro zone.

Finance minister Evangelos Venizelos on Thursday condemned Papandreou’s demand that the European bailout package be presented to Greek voters for approval.

Read The Entire Article

Mother Jones

A Conversation About Greece - Kevin Drum

Are the Greeks crazy?

No, they're just at the end of their tether. Europe is asking them to adopt more austerity than they're willing to bear.

Okay, but they're spending too much money. Surely they know they have to cut back?

Sure, but the deals on offer are pretty unattractive. Europe wants to forgive half of Greece's debt and put them on a brutal austerity plan. The problem is that this is unrealistic. Greece would be broke even if all its debt were forgiven, and if their economy tanks they'll be even broker.

But that's the prospect they're being offered: a little bit of debt forgiveness and a lot of austerity.

Read The Entire Article

Iceland Took Another Approach To Their Debt Crisis

2008–2011 Icelandic financial crisis

Author Greg Palast and Dylan Ratigan the role of Goldman Sachs in the Greek economic crisis.

Visit for breaking news, world news, and news about the economy

More Articles By InnerSelf Staff

InnerSelf celebrates 30 years!


Support InnerSelf by
using this Amazon link


follow InnerSelf on


 Get The Latest By Email



Seven Myths About Dyslexia Put To Res
Seven Myths About Dyslexia Put To Rest
by Serje Robidoux, Macquarie University
How American Schools Are Making Inequality Worse
How American Schools Are Making Inequality Worse
by William Schmidt, Michigan State University and Nathan A Burroughs, Michigan State University
Seven Spectacular Weather Events And What Causes Them
Seven Spectacular Weather Events And What Causes Them
by Stephen Lewis, The Open University
A Good Breakfast Actually Does Boost Children's School Grades
A Good Breakfast Actually Does Boost Children's School Grades
by Hannah Littlecott, Cardiff University and Graham Moore, Cardiff University
How Bernie Sanders Really Is Changing Democracy
How Bernie Sanders Really Is Changing Democracy
by Peter Bloom, The Open University


The Practice of Tonglen: Opening Heart and Mind
in Diseases & Conditions by Pema Chodron
When we are willing to stay even a moment with uncomfortable energy, we gradually learn…
I Choose Joy
in Meditation by Orin and DaBen
I choose joy. I choose the path of joy. I am now willing to release struggle, and embrace…
Affirmation Prayers and Blessings
in Religions and Beliefs by Sirona Knight
The power of affirmation, prayer, and blessing has been used for thousands of years in…
What Is Zen?
in Spirituality & Mindfulness by Mel Ash
Who are we really? What is really the meaning of Life? How can we attain lasting…
Menopause & Crone Sexuality
in Sexuality by Linda E. Savage, Ph.D.
There are powerful landmarks that profoundly influence women's lives. They function as…
Beyond Right & Wrong
in Spirituality & Mindfulness by Alan Cohen
Our minds are powerful indeed, powerful enough to connect with God through a wad of…
What is Real? What is Reality?
in Creating Realities by William R. Yoder
Over the years, I have read many wonderful books on the subjects of spirituality,…
Could Ibuprofen and Aspirin Decrease Skin Cancer Risk?
in Diseases & Conditions by Reema Rattan and Nicki Russell, The Conversation
Common over-the-counter painkillers, such as ibuprofen and aspirin, can decrease risk of…


Latest Articles & Videos


Latest Articles & Videos


Latest Articles & Videos

Why The Global Warming Pause Was A Myth All Along

Why The Global Warming Pause Was A Myth All Along

Stephan Lewandowsky, University of Bristol
in Warming Evidence