Sovereign Debt: A Threat To The Entire Financial System

Bill Bonner The Daily Reckoning Business Insider 3/4/2011

“Ireland is broke,” said our taxi driver.

We like to ask cab drivers about the economy. Not that they understand anything any better than the average central bank economist. But they talk to people. Without cameras or tape recorders in the background. And they have their own […]

What Fine Gael’s Win Means for the Irish Banks and the IMF Bailout

“…the interest on our debt could reach €12bn [$16.6 billion US] by the end of next year. This would eat up roughly 85pc of income tax revenue. That is an impossible burden and clearly unsustainable. That is just a beginning.

We are required by the EU to take on the debts […]