I ll try to cover in the parts to follow the debt levels, Western countries with under developed mentality, why Germany should stop its tax payer money from being wasted and Why Default ahs already occurred
I hope you all like documentaries, and those related to Crisis are heaven, from Euro Debt Crisis to the World Wars, they are all fun. lets have a look at The Wall Street Journals one such documentary, WSJ, hope you wont report me for copyright violation, no changes have been made to any of the parts present in this video.
Although this video is self explanatory, Euro is to dissolve or not is a paradox, although IMF Head Christine Lagarde said Euro will survive the present crisis in 2012, it is still unknown on how will this be dissolved. Italy, Spain, Portugal, France, Budget deficits are souring, a bailout still means a default. yet Lehman had to get bankrupt for the banks in US to ask for billions and make subsequent profits on it, A default of Greece might turn out to be even more dramatic. Currently, its all in hands for Germany and France to get this all done and cleared.
Part 2, to focus on what is fisical and whats monetary, and A Default is already here