The debt crisis and fiat money

posted by
December 6, 2011
Future of Freedom Foundation
by Tim Kelly  
Posted in Commentary

"The European Union (EU) has a sovereign-debt problem. Greek government bonds have been downgraded to junk status, and there is talk of default. Italy, Spain, and Portugal appear to be next, as they face skyrocketing interest rates just when their governments must borrow more to service their debt. Should these countries default, some of Europe’s largest banks -- which are heavily exposed to EU sovereign debt -- could collapse." (12/05/11)  


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