This morning Greece’s inevitable default finally made it into the NZ MSM. They didn’t actually point out that it was inevitable of course but it can no longer be avoided.
Here is some more information you might need to get the broader picture:
- Portugal has been degraded to absolute junk
- –France was downgraded from AAA to AA+
-Austria was downgraded from AAA to AA+
-Italy was downgraded two more levels from A to BBB+
-Spain was downgraded two more levels
-Portugal was downgraded two more levels
-Cyprus was downgraded two more levels
-Malta was downgraded one level
-Slovakia was downgraded one level
-Slovenia was downgraded one level
- There might be a giant 1 trillion quantitative easing attempt in Europe indicating that Germany may have lost the fight against the inflation wave coming.