Welcome to the 132nd Issue of Weekly e-newsletter by www.HousingLoanSG.com. This week I like to share with you "Will U.S. and China Trigger Another Global Financial Crisis?”.
Why Fear Continues, because Problem is not Solved!
Why despite EU’s announcement of 1 Trillion US Dollars of financial assistance schemes to save Greece the global stock markets continue to fall? The reason is the “huge debt” problem faced by Greece, are also common problem at other countries, such as Spain and even U.S.
For over 15 years, Greece's economy has already lost its competitive edge, but Greece continued its generous "national social welfare system", together with Greece's political corruption, tax evasion, many wealthy people pay little tax, which led to Greece government accumulating Budget Deficit. Over time, because of deterioration in its status, led to the current credit ratings of their country relegated to junk status.