Thursday, 2 December 2010

meltdown ?

Where the bees right about the winter, see previous posting ?

The Euro = this has not been given much coverage for obvious reasons . What happens if the lesser economies such as Greece , Ireland , Portugal where forced to leave the euro zone . If they did it would represent an immediate average 30% devaluation of their non-euro currency and assets -thats property values. Only catch the Europeen banks would immediatly loose well over a trillion pounds or euros . Not stuff they could hide as its final and total losses. Almost all the banks in Europe would become insolvent .

Maybe we should follow the bees and stock up with lots of tinned food.

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