SONY set to JUNK status

[Kynes]

pezus said:

Kynes said:

Greece, as Spain, Portugal and Italy problem is that their government spend much more than they tax their citizens (Keep an eye in France, it's the next one who is going to have the same problem). Iceland problem was a monetary one, they had a much higher lending rate than UK or the Euro zone, so foreigners put their money in Iceland Banks. Their banks had a passive several times higher than their GDP.

We have a public debt crisis, Iceland had a private debt crisis (Irish problem is very similar to Ireland, that's why I haven't mentioned them with the PIGS)

In reality though the crisis was public for Iceland, because the inviduals that owned most of the banks didn't try to help at all and the government had to bail them out.

It isn't a budget crisis, as the other countries one. The Spanish government spends 10% of our GDP more than the total taxed money, every year, since 2007.