EU

How ironic, the U.S. national debt blows by a historic $16 Trillion during the Democratic National Convention (DNC).  U.S. government debt reached $16 trillion for the first time after rising $1 trillion since November, according to Treasury Department data.  The Democratic Party’s 2012 platform calls for future deficit reduction to exclusively come from tax hikes on [...]

It appears that the EU collapse debate has shifted towards accepting the inevitability of a Greek exit with central bankers across the euro zone openly discussing the pros and cons of a Greek departure.  Now the focus seems to be that of the knock-on effect, particularly in Spain,  accelerating the euro crisis into an entirely new dimension.  [...]