AVA MARIA - by Helene Fischer - video ~ link
Greece needs a couple of hundred billion euros—but Italy has the third largest sovereign debt in the world, topped only by Japan’s and the United States’. Over $2 trillion of its debt comes due over the next five years. And Spain is not that far behind, if you add the regional debts of the autonomous regions, and the fact that the enormous Spanish banking sector is teetering, and will very likely need to be bailed by the Spanish government.
In short, Italy and Spain are simply Too Big To Bail-out.
Hence the troika—the IMF, the EC and the ECB—was trying its mightiest to bail out Greece and use it as a firewall to stop the sovereign debt crisis from spreading across the eurozone.
Too late: As of yesterday, Monday July 11, the tipping point was reached, insofar as market fears of Italy and Spain.
Perth is on track to breaking another weather record as low daytime temperatures continue this week.
Another rocket also hit the house of Iraqi Deputy Prime Minister Saleh al-Mutlaq.
The assault has prompted the Kuwaiti Foreign Ministry to recall its diplomats and embassy staff from Baghdad.