At the top of the list of problems facing the Euro zone is Cypprus issue. That one's far from over now.
The Cypriot government confirmed now that the cost of its bailout had risen from about $23 B to $30 B, and that it may have to sell most of its gold reserves to pay for its part of the out.
And it will most assuredly get worse direction . The reducing of sample rate of the Cyprus financial industry problem in the wake of its debt crisis will shave 12.5 percentage to 16 frm the tiny nation's economy over the next couple of years.
You can bet an impoverished Cyprus will need to beg the EU and IMF for table scraps early in the years ahead.
Countries like portugal, Ireland, Italy, Greece & Spain, tossing out strong measures that a required part of that country's $101 B bailout in 2011 year.
Ironically, the EU leaders agree in principle to give both Portugal &Ireland more time to pay back their Loans for this year
And earlier in the week, a report by the bailout team said Portugal's lingering fiscal struggles eventually force it to seek a second bailout.
A report released Tuesday by the Organization for Economic Co-operation and Development said that Slovenia facing severe banking debt crisis ."
And one of Other report by the E C said both Slovenia & Spain had excess budget volume that force them to pay fines of 0.1% of their output, in accordance with tough new European Union budget surveillance rules and conduct.
And als0 Italy's political crisis remain unsolved , which will further delay needed labor market availability . Other side , Italy's debt-to-GDP ratio expected to rise past last year's all-time high of 127% to 130.4% this year.
Last issue , the EC report called out France - Europe's second-largest economy said that the economic challenges and reforms enacting so far would not be sufficient to solve competitiveness issues for current time
The report added: "France's public-sector indebt represents a confusion, not only for the country itself, but also for the Euro zone fully
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