With Portugal at long last applying for help this leaves Spain to do the same and possibly Italy.
The Central bank is now suggesting raising interest rates because of Inflation in Germany and France etc.
This causes Ireland and Greece problems as well as Portugal because :
1. Higher interest Rates will kill off a recovery
2. The Euro will get stronger and this kills off a recovery as goods become expensive for exports.
3. Mortgages go up and lending so this stifles recovery
4. The majority of Ireland's mortgages are Inflation linked - not good!!
So expect Ireland, Greece, Portugal, Spain and possibly Italy to pull out of the Euro.
I won't tell you again
The Central bank is now suggesting raising interest rates because of Inflation in Germany and France etc.
This causes Ireland and Greece problems as well as Portugal because :
1. Higher interest Rates will kill off a recovery
2. The Euro will get stronger and this kills off a recovery as goods become expensive for exports.
3. Mortgages go up and lending so this stifles recovery
4. The majority of Ireland's mortgages are Inflation linked - not good!!
So expect Ireland, Greece, Portugal, Spain and possibly Italy to pull out of the Euro.
I won't tell you again
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