The Euro debt death spiral – how did we get into this mess?

The Euro debt death spiral – how did we get into this mess? The problem is lotsa European banks own Greek debt. Why did the fool banks buy the debt of a country whose main product seems to be public employees? It all comes down to “governments like banks to buy their debt.”

Bonfire of the Absurdities: After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

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