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EUROZONE TURMOIL: Spain, Italy and Greece owe massive debt of €1 TRILLION to ECB
EURO states owe the European Central Bank (ECB) a staggering €1trillion as they teeter on the verge of bankruptcy amid warnings a debt bubble is on the horizon.
Analysts condemned the "flawed economics of this reckless [EU] experiment" and said the ECB faces a rude awakening as states crumble under the burden of debt.
Market conditions in Eurozone are showing signs of a return to the conditions that sparked the 2011 European debt crisis which first reared its head in 2009.
The ECB uses a system called Target2 to assess levels of debt and the bank's data appears to show it is only a matter of time before the current system breaks.
"Before you embark on a Journey of Revenge, Dig Two Graves" Confucius (504 bc)
“The darkest places in hell are reserved for those who maintain their neutrality in times of moral crisis.”
"If angry, count to ten. This will give you time to find a weapon." - Will Spencer