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Europe's Coming Summer Of Discontent The truth is that governments across the eurozone have accumulated gigantic piles of debt that simply are not sustainable. Prior to the implementation of the euro, these European governments often "printed" their way out of messes like this, but now they can't do that. Total public/private debt in Spain has reached 270 percent of GDP. Italy's largest union has announced that it will propose to its members a general strike at the end of June to protest these measures. The Wall Street Journal is warning that Ireland could be Europe's next financial basket case. When Europeans get really angry it isn't pretty. If what happened in Greece is any indication, this upcoming summer and fall could be a really wild one throughout Europe. "Euroland, burned down. A continent on the way to bankruptcy" http://theeconomiccollapseblog.com/archives/europes-coming-summer-of-discontent

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