With Europe's elites deciding to deal with too much debt by creating a leveraged rescue fund, it is just a question of how it will all unravel and how fast, not "if". The mistake was too much borrowing and debt, and was made in the past, and is well beyond reversal. We in the US as well are already committed to a crisis by our own elites who have spent far more that can ever be repaid honestly. Our grandkids will not be paying this debt. We are right behind the PIIGS with similar debt to GDP ratios and even less discipline when it comes to cutting spending and shrinking the public sector.
Greek vote sets off 'pandemonium', engulfs Italy - Telegraph:: www.telegraph.co.uk/finance/financialcrisis/886367....html
http://chumly.com/n/d8b2d2
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