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IPFS News Link • Economy - International

Rome Is On The Verge Of Detroit-Style Bankruptcy

 With European peripheral bond yields collapsing every single day to new all time lows (primarily driven by Europe's near-certainty that a US-style QE is imminent as we first showed here in November, despite Mario Draghi's own words from November 2011 that a QE intervention is virtually impossible), increasingly more of Europe is trading just as safe, if not more, as the United States. And in keeping with the analogies, considering a major US metropolitan center, Detroit, recently went bankrupt, it is only fair that Europe should sacrifice one of its own historic cities to the gods of negative cash flows. The city in question, Rome, which as the WSJ reports, is "teetering on the brink of a Detroit-style bankruptcy."

1 Comments in Response to

Comment by Anon Commenter
Entered on:

MOST of the EVIL in the world, originated in two places:  1) Rome, and 2) Venice (which then subesquently migrated to the "City" of London - London's Financial District)

Maybe, finally, HUMANITY can be rid, of at least ONE of those evils.