Obavy z PIIGS?

Portugalsko, Írsko, Taliansko, Grécko a Španielsko sú krajiny, ktoré počas éry boomu si požičali príliš veľa a v súčasnosti majú problémy so splácaním dlhov. Niektoré z nich v budúcnosti pravdepodobne to ani nesplatia a to môže privodiť labutiu pieseň pre Euro.

After every financial crisis there's a sovereign debt crisis, Marc Faber says. Countries that borrowed too much during the boom times start struggling to pay their competitors back, and eventually some of them default.

The countries most likely to blow up this time around are the "PIIGS": Portugal, Ireland, Italy, Greece, and Spain. One ore more of them, Faber says, will likely default in the next couple of years. And, that could result in the death of the Euro currency.

Longer-term, Faber says, Japan and the US are in line for the same fate.

The US crisis won't hit us this year or next year. But within 5-10 years, the United States will be forced to quietly default on its debt, most likely by printing money and destroying the value of the currency.

The main problem comes down to two things: 1) ballooning debts and 2) future interest costs.