Subscribe to the BlogThe European PIGS countries namely, Portugal / Ireland / Greece / Spain collectively need over 90 billion dollars in the coming two months to repay their maturing debts. The cost of borrowing for these four countries are now over three times the cost of borrowing for UK and Germany.
And the downgrading by Standard & Poors has only made things more difficult for these four troubled European countries to brrow money from the market.
The strong European Countries are not willing to invest their hard earned money into these arrogant and rouge countries unless these countries show clear commitment to cut their reckless spending. But the public outrage in these four troubled countries are only growing with every passing day.
Nothing seems to be going right for the entire European Region, as no solution for the troubled countries within the next few weeks, would only worsen the value of the common currency.
The crisis is now good enough to pull down the entire global growth by few percentage points, in no time.