dr.doolittle

Spanish Deflation on the Way

to what extent have the ECB's maintaining of high interest rates throughout this decline enhanced and/or created the conditions of a depression? Is a depression a possibility in Europe? Social unrest appears unlikely save for the various separtist movements which seem quite manageable in a post-9/11 world. Has Russia's failed invasion of Georgia, however, created any type of fear that the Euro itslef may not be a reliable store of value? Is there any dollarization of the European economy currently going on either in Russia or Europe in general? Thank you very much.