so, please read this article at the link above!
This comment by Killerfish tickled me:
Stephen King is correct that QE by the ECB would help but he is also correct that it won’t solve the crisis. He simply highlights how far the EU is from a solution to this problem and by ‘solution’ I mean something that puts the EU back on a sustainable growth path. The main concern should be that the only solution is either a period of hyper inflation to wipe out nominal debts or huge losses for investors as asset prices are allowed to fall naturally.
Also, don’t forget that once the EU has got back on track there is always the question of how the US gets its debts under control before treasury investors revolt.