Friday

European Financial Crisis 2009

The impending European Crisis will make the Asian Crisis child’s play by comparison. Asian account deficits and debt levels were much smaller than Eastern European deficits now. The Asian currencies spiralled south in 1997, mitigating the impact of the financial crisis by boosting their exports to the West. Now with the Euro all time high, a global economic meltdown and debts still waiting to be written off, Europe is a ticking time bomb waiting to go. Continue…