How long until the markets realise that America is effectively a ‘Greece’ and they should treat it as such? That’s effectively the question of NYtimes columnist, Paul Krugman.
Debt and deficit in Europe
But it America really, ‘a Greece’? If the PIIGS are ‘too big to fail’ no one could sensibly argue that America is too big to fail. The only real question is though, if push came to shove who would bail them out? Who could bail them out?
And what are the benefits of having a currency to call your very own? See for yourself below. It is now only a matter of time before there is a split.
The benefit of having your own currency
The charts of business and finance 