Goodness... just sense a hint of global economy recovery, and there comes the news of Europe countries - PIIGS (Portugal, Italy, Ireland, Greece and Spain) are bogging deeper into economy crisis due to spiraling debts. Governments are forced to slash their spending to help contain their annual budget deficit. The worsening situation might trigger greater recession in the region. The question of bailing out these countries would become desperate, would Germany or France able to help? Very very difficult… Very likely before this turmoil is settled, east Europe countries would follow the pave.
Would someone be dropped out from EU eventually? I think the pace of expanding EU zone is far too fast considering some poorer members are not ready to catch up the infrastructures needed to develop along with the western members.
Comparing to BRIC (Brasil, Russia, India and China) that group the strong growth countries, the name of PIIGS is humiliating.
Would someone be dropped out from EU eventually? I think the pace of expanding EU zone is far too fast considering some poorer members are not ready to catch up the infrastructures needed to develop along with the western members.
Comparing to BRIC (Brasil, Russia, India and China) that group the strong growth countries, the name of PIIGS is humiliating.
Shit, EURO has dropped drastically recently. I have told all my friends to invest on US Dollar since months but I don’t have the saving to gamble on it.
