AS finance ministers, EU chiefs and IMF bosses gathered in Brussels last night, just about the only thing that could be said with any certainty was that the Cyprus crisis was just beginning – and perhaps another euro crisis as well.It also seems highly unlikely that the proposed €16bn bailout will be enough. Yet any significant amount more will bankrupt Cyprus.
This crisis is only beginning and omens for Europe are bleak - Independent.ie
Whilst the Deefster warned ya'll over the past 2 years that the Crisis was worsening - Brendy Boy & Co regularly claimed all would be ok.
According to Brendy Boy now it's pretty "fkin far from Ok"...
Over the next few weeks & months I will be updating readers about the horrific state of almost Universal Insolvency within the EU.
Recently it was highlighted that EU Unemployment was 2 & 1/2 times higher than Brazil's - this crisis is going nowhere fast.
The EZ is being propped up by Toxic Derivatives & unservicable loans.
Keep an eye on Slovenia!
I've never said the Euro would collapse but the level of Toxic Overleving will ensure that this Rollercoaster will continue for a good while yet & may bring down the EU itself...