http://blogs.reuters.com/great-debate-uk/2010/11/19/will-the-euro-survive-europe%e2%80%99s-latest-sovereign-debt-crisis/ Mon, 17 Jun 2013 13:12:52 +0000 hourly 1 http://wordpress.org/?v=3.4.2 http://blogs.reuters.com/great-debate-uk/2010/11/19/will-the-euro-survive-europe%e2%80%99s-latest-sovereign-debt-crisis/comment-page-1/#comment-13215 oidunno Tue, 23 Nov 2010 00:47:03 +0000 http://blogs.reuters.com/great-debate-uk/?p=8821#comment-13215 Agreed. Agreed.

]]> http://blogs.reuters.com/great-debate-uk/2010/11/19/will-the-euro-survive-europe%e2%80%99s-latest-sovereign-debt-crisis/comment-page-1/#comment-13147 pavlaki Sat, 20 Nov 2010 21:19:17 +0000 http://blogs.reuters.com/great-debate-uk/?p=8821#comment-13147 Spain is sitting on 620 bil Euros of non performing loans to the construction sector, via the Caja banks. At the moment they are still in the books as good debts. Once the write down starts the focus will be on Spain and the banks debts. I can't see the Germans bailing out Spain as well as Ireland and Portugal. Either the central bank takes over the economic running of the Euro zone in totality or the Euro collapses. The former brings an unacceptable loss of sovereignty and unbelievable financial hardship for the PIIGS whilst the latter brings chaos. I can't think of a third scenario. Spain is sitting on 620 bil Euros of non performing loans to the construction sector, via the Caja banks. At the moment they are still in the books as good debts. Once the write down starts the focus will be on Spain and the banks debts. I can’t see the Germans bailing out Spain as well as Ireland and Portugal. Either the central bank takes over the economic running of the Euro zone in totality or the Euro collapses. The former brings an unacceptable loss of sovereignty and unbelievable financial hardship for the PIIGS whilst the latter brings chaos. I can’t think of a third scenario.

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