Saturday, January 22, 2011

High finance in the US and the EU

It is interesting to see that while the EU seems still incapable of finding a solution for the Euro problems in the US a discussion is starting about allowing states to go bankrupt.

There was another article on this subject. It appears that the proposal to make it possible that states can go bankrupt came from Republicans who wanted to prevent a government bailout of troubled states like California and Illinois. But what followed was a near panic on the markets and now they are backpedaling.

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