Rick Santelli on CNBC highlighted a speech by a Swedish central banker in which the banker named names, and they are familiar…
Other countries are also experiencing serious problems. Among the euro
countries, apart from Greece, these are mainly Portugal, Italy, Ireland and Spain. Critical conditions for assessing how these countries shall attain a sustainable development of their public finances in the future are the current size of the public sector debt in relation to GDP, the credibility of their future fiscal policy and the conditions for growth in domestic and external demand.
These are not startling revelations to the market, but it is interesting to see central bankers talking openly about the risks posed by other countries. Decorum is a thing of the past as the world rebounds from its worst financial crisis in 70 years.