I've been denied entry to Thailand - Now What ! ?

[THAIPHUKET]

I read always Paul Krugman, NYTimes, he just posted on his blog

For some reason events in European bonds markets aren’t making big headlines. But they should be: even as the GOP does its best to destroy America’s credit, things are falling apart, with a vengeance, on the other side of the Atlantic.

The interest rate spread between Italian and German bonds is now higher than it was before the big European rescue package was announced. Since the purpose of that package was, first and foremost, to calm markets before Italy and Spain sank into self-fulfilling debt spirals, this is very bad news.

Also, German interest rates are plunging. This does not reflect greater confidence in German solvency; if anything, investors are less confident in that respect, as the potential costs of a peripheral bailout start to get reflected in credit assessments of the core ....

Well, with a monthly pension in Euro, no place to run for, right?

[CaptHaddock]

Could be difficult. In the long run it might depend on whether the pension is issued by one of the peripheral countries like Greece or Ireland or a Euro core country like Germany, France or the Netherlands. Getting your pension in reconstituted drachmas might be painful. Here's the money line from an article by a British economist, Roger Bootle:

The liabilities of banks in all of the peripheral countries amount to about 230pc of German GDP. The scale of the threat to the ECB, and thereby to the solvency of the eurozone member governments which stand behind it, is overwhelming.

http://www.telegraph...opes-hands.html