Will France be the next domino to fall in the eurozone debt crisis?
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
Source: The Future of Public Debt, Prospects and Implications, BIS Working Paper 300, March 2010. Note that the BIS figures use gross rather than net public debt.
247bull.com / By Ben Mountifield / August 15th, 2012
While other nations within the eurozone are doing their best to back away from the fiscal cliff, France is accelerating towards it. As a result it’s looking more and more likely that France will be the next domino to fall in this on-going crisis.
If France doesn’t alter course it could quickly find itself in the same position as Greece and Spain, i.e. unable to fund its profligate lifestyle, and this would surely be the decisive blow that breaks the eurozone apart.
Is France the next Greece?
The charts below shows the Bank for International Settlements (BIS) public debt projections for France, Greece, Spain and Italy. What’s striking is that the debt outlook for France is significantly worse than that of Spain or Italy, and in fact, is much more closely aligned with that of Greece.
As the BIS points out, “The results plotted as the red line show that, in the baseline scenario, debt/GDP ratios rise rapidly in the next decade… As is clear from the slope of the line, without a change in policy, the path is unsustainable.”
Thanks to BrotherJohnF
2012-08-16 01:06:24
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