Re: Country going bankrupt - what does it mean?
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France isn't that healthy, but 'better off' than say Spain, Portugal, Ireland, Italy. Should one of these fail, the Euro Central Bank will unable bail em, let alone IMF. Some EU banks are vulnerable.
Euro derivatives= eek.
Was watching Richo on SkyN tonight, I feel he and his guest are a little over confident re China and growth (as saviour of the west). Reckoned we were doing well at paying off our personal debt, say on credit cards. At the GFC 2008 AUS folk owed 46billion to CC's, dropped to 43billion as folk paid em off, but has risen to 49billion now. That tells me many folk are paying mortgages with their CC's. But AUS is the place to be nonetheless.
Mean no offense.
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