>That cost is high because the risk of the investment is (perceived) high. Eh, that's semantics. The risk is high. None of these countries can afford the sli

>That cost is high because the risk of the investment is (perceived) high. Eh, that's semantics. The risk is high. None of these countries can afford the slightest rise in interest rates, whether that rise is associated with a loss of confidence or because there are better places to put money. That's what the Maastricht treaty was supposed to prevent. But that was a pipe dream because there's no way for the union to keep the spendthrifts in line.