Thursday, March 27, 2008
Will the troubles of Iceland spread to Eastern Europe?
Will the deficit troubles of Iceland spread to Europe and the Mediterranean? Always a rabble-rouser, Ambrose Evans-Pritchard seems to think so. He indicates that Turkey is the next litmus test. I wonder what worse economic conditions in Turkey would do to immigration trouble that so many Germans so conveniently ignore. The trade imbalances and government debt in this article are shocking. It seems that the US really is a world leader. - Allan