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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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Nov 21 4:00 PM EST

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To: TobagoJack who wrote (82329)	3/3/2015 10:00:03 PM
From: Snowshoe	1 Recommendation Read Replies (3) of 217978

>>Burn the debt, I say.<< Someone is teeing up for a haircut... Eurozone faces first regional bankruptcy as debt debacle stalks Austria's Carinthia telegraph.co.uk By Ambrose Evans-Pritchard 6:37PM GMT 03 Mar 2015 The Alpine region of Carinthia faces probable bankruptcy after Austria’s central government refused to vouch for debts left by a disastrous banking expansion in eastern Europe and the Balkans. It would be the first sub-sovereign default in Europe since the Lehman Brothers crisis, comparable in some respects to the bankruptcy of California's Orange County in 1994 or the city of Detroit in 2013. Austria’s finance minister, Jörg Schelling, said Vienna would not cover €10.2bn (£7.4bn) in bond guarantees issued by the Carinthian authorities for the failed lender Hypo Alpe Adria, or for the "Heta" resolution fund that succeeded it. This leaves the 550,000-strong province on the Slovene border to fend for itself as losses spin out of control.

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