Bloomberg Video with RGE’s Megan Greene: Spain is Insolvent, Bailout to Come
In case you missed it:
April 27 (Bloomberg) — Megan Greene, head of European economics at Roubini Global Economics LLC, Michael Crofton, chief executive officer of Philadelphia Trust Co., and Marc Chandler, chief currency strategist at Brown Brothers Harriman & Co., talk about Standard & Poor’s decision to cut Spain’s sovereign credit rating and the outlook for the country’s debt crisis. They speak with Trish Regan and Adam Johnson on Bloomberg Television’s “Street Smart.”
One Response to “Bloomberg Video with RGE’s Megan Greene: Spain is Insolvent, Bailout to Come”
Spain is insolvent and (as expected) is slowly turning to be the next Greece. Italy will probably follow the same footsteps within a few months of a difference (or a year). It could even happen parallel with Spain, since when the markets loose (whatever remaining) "confidence" they have for Spain, Italy's future will be pretty much a copy paste senario, only happening faster than expected. I dont think there is enough time for Europe to "turn" the game. Especially with elections happening this weekend in France and Greece. A political tsunami is about to hit Europe (in a slow motion) and change everything as we know it. Add to the equation the markets gradual loss of confidence (regionally) and the downgrades that will follow even in the core and you can get an idea of what is about to happen in europe (not only Spain).