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...without giving much in the way of explanation why. You'll notice that these so-called 'PIIGS' have a much larger dependency on tourism from the US and UK th
by handelaar 17y ago
...without giving much in the way of explanation why.
You'll notice that these so-called 'PIIGS' have a much larger dependency on tourism from the US and UK than any other Euroland countries. At the moment the USD/GBP devaluations are killing them.
(Yes, most of them also have grave public spending issues, but Ireland has dug itself out - at least to the extent that its debt is coming down and because of that it's not paying super-premium bond rates.)
- MaysonL 17y agoSuper-premium bond rates? Greek 10-year bond rates are currently 6.11% - which is perhaps high for a sovereign bond, but not super-premium. http://www.businessweek.com/news/2010-02-12/greek-two-year-bonds-rise-for-fourth-day-after-eu-help-pledge.html http://www.businessweek.com/news/2010-02-12/greek-two-year-b...