Without growth, there’s only one ending for Euro debt crisis | Energy Bulletin: "Consider the European economies in the worst shape: Portugal, Italy, Ireland, Greece and Spain. The cumulative national debt of these countries may as well be denominated in barrels of oil instead of euros, because millions of barrels of oil is what will be needed to get those economies growing again. Can those countries afford the cost of economic growth when oil is trading in the triple-digit range?
How much more fiscal punishment can the eurozone endure before countries start throwing in the towel? Without economic growth, there can be only one ending to Europe’s debt crisis. Default. Judging by the newly elected socialist politicians in Greece and France that eventuality is a lot closer than financial markets might think."
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