EUROZONE TURMOIL: Spain, Italy and Greece owe massive debt of €1 TRILLION to ECB…(Repudiate The Debt, Start Over! Only Way!!)
EURO states owe the European Central Bank (ECB) a staggering €1trillion as they teeter on the verge of bankruptcy amid warnings a debt bubble is on the horizon.
By SIOBHAN MCFADYEN
Express.co.uk
Mon, Mar 20, 2017
Analysts condemned the “flawed economics of this reckless [EU] experiment” and said the ECB faces a rude awakening as states crumble under the burden of debt.
Market conditions in Eurozone are showing signs of a return to the conditions that sparked the 2011 European debt crisis which first reared its head in 2009.
The ECB uses a system called Target2 to assess levels of debt and the bank’s data appears to show it is only a matter of time before the current system breaks.
At the time several eurozone member states including Greece, Portugal, Ireland, Spain and Cyprus were unable to repay or refinance their government debt.
They were bailed out through assistance of third parties including Eurozone countries, the ECB, and the International Monetary Fund.
But Spain, Italy, Greece and Portugal are racking up debts they will never be able to pay off.
The Rest…HERE
