The economic nightmare gets worse........

Quote:  Markets did not create the euro, politicians did. And they made a thoroughly bad job of it. Now they blame the markets for spotting their shoddy workmanship.

Now read on:

http://www.telegraph.co.uk/finance/comment/rogerbootle/8802734/Financial-markets-hold-politicians-to-account-over-the-euro-crisis.html

Add to this that it is being reported that the Greek Government's projections indicate it will miss its austerity targets by a country mile.  Or, put another way, more social unrest and a disaster for the Greek people.

http://www.telegraph.co.uk/finance/financialcrisis/8802846/Banking-crisis-set-to-trigger-new-credit-crunch.html

and

http://mobile.reuters.com/article/topNews/idUSTRE7900SU20111002?i=2&irpc=932

also:

http://www.spiegel.de/international/europe/0,1518,789656,00.html