Re: Re: Moving the economic crisis forward.

#107707

Fuengi (Andrew)
Participant

@mark wrote:

This goes to the heart of the problem.

Germany/the North are savers and Spain/the South are borrowers. They have lent us too much ,we have borrowed too much. We can’t pay them back. What next?

1) default
2) inflation
3) endless bailout

Either way, the German saver pays.

more household debt in germany than many believe
http://blogs.telegraph.co.uk/finance/edmundconway/100006253/can-you-guess-which-is-the-most-indebted-country-in-europe/