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5/11/11

For Europe, Apocalypse soon?

Europe is fast approaching its Day of Reckoning. And, no, we're not talking about the May 21 Day of Judgment.

First, consider Greece: Its economy is hobbled, it can't meet its targets, and it says it doesn't need another bailout, which, of course, means one is coming soon, as every other policy maker in Europe seems to believe. European patience is wearing thin, and the country has been hit again by another violent strike called to protest austerity measures.

On top of that, the markets increasingly accept that the country will have to restructure its hefty debt, a nice way of saying default.

For more: CTV News | For Europe, Apocalypse so?

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