Randal Hines called it… the euro is in major trouble. Behold:
“Between now and April, France will be rolling over and extending 96.7 billion €, a huge sum when combined with Italy and Spain’s refinancing needs for the same period. France has the biggest debt burden of the top-rated Euro nations, at 85 percent of gross domestic product. Its financial institutions also have the largest debt holdings in the five crisis-hit countries, at 681 billion € ($921 billion) as of June, according to data from the Bank for International Settlements in Basel. Keeping its triple-A rating is paramount, if France is to keep its borrowing costs at manageable levels.”
Click here to read more about France, America and the world beyond in the latest edition of Carnet Atlantique!