James Mason, an analyst at Roubini Global Economics, is out with a
new report on the dire situation of the PIIGS in the EuroZone. His conclusion:
Our debt sustainability analysis across the eurozone periphery shows that Greece is clearly insolvent; the Irish government is unable to support its banks and remain solvent; Portugal’s public debt is not sustainable at current interest rates; it is still quite possible that Spain will lose market access in 2011; and Italian public debt is comparatively stable.
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