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Ultimately those rights may need to be purchased by the state, which is impossible when states have their public debt debt maxed out, the Central Bank will not monetize, everyone thinks this is the gold standard, and cross-border actions are either an unacceptable fiscal transfer or an unacceptable foreign expropriation.

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman
by Carrie (migeru at eurotrib dot com) on Mon Mar 5th, 2012 at 10:02:38 AM EST
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As I've said before, sucks to be in the euro.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Mon Mar 5th, 2012 at 11:23:13 AM EST
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