SPAIN HAS JUST BEEN DOWNGRADED TO A FINANCIAL RATING OF AA2. THIS IS RAPIDLY APPROACHING THE LOWLY LEVEL OF THE RANCID GREECE.
NEARLY A YEAR AGO I PREDICTED SPAIN WOULD BE HEADED IN THIS DIRECTION. NOW THE NANNY STATES OF IRELAND, PORTUGAL, GREECE AND SPAIN ARE NEEDING ADDITIONAL BAILOUTS FROM GERMANY, FRANCE, THE NETHERLANDS, LUXEMBOURG, BELGIUM AND OTHER EU COUNTRIES.
CAN THE GERMAN'S AND WIMP FRENCH AFFORD HOLDING THE BAG FOR THESE SAD COUNTRIES?
HOW LONG BEFORE ITALY MEETS THE SAME FATE?
HOW LONG WILL THE GERMAN'S (who have some sense of decency) PUT UP WITH HOLDING THE EMPTY WALLETS OF GREECE, SPAIN, PORTUGAL, IRELAND AND SOON ITALY?
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