http://money.cnn.com/2010/04/28/news/international/greek_bonds/
Greek predicament fears deepen
“The produce upon Greek holds soared to jot down levels again, the day after Standard & Poor’s slashed the debt rating upon the nation to junk as well as among reports which the IMF is deliberation some-more loans to the beleaguered country.”
We’ve been conference about problems with Greece for multiform months.
Now Portugal is carrying identical problems.
Which the single of the following nations will be subsequent upon the list (note which they all have the ongoing traffic deficit):
Greece
Italy
Luxembourg
Mexico
Pakistan
Poland
Portugal
Slovenia
South Africa
Spain
Turkey
Australia
New Zealand
UK
USA
http://www.tradingeconomics.com/Economics/Balance-Of-Trade.aspx?Symbol=NOK
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Doug Casey says the fat lady in Greece hasn’t sung yet. Right now she’s throwing up. Although Greece is already at junk bond status, there is still a long way to fall for that country, because it hasn’t had to default yet. If, by some miracle, Greece DOES get the money to keep running, it will only be a temporary fix until next year.
Portugal, Ireland, Italy, and Spain would be next, with Portugal first as it has just been demoted to A- and is on the brink of joining Greece in it’s BB+ junk bond rating.