X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Greece is toast–they just have not declared it officially burned. Portugal is so small it could be bought by a major US PE firm and just be another portfolio hold, although a poor investment. Ireland destroyed its banking system and will take many years to recover any semblance of its great growth years. Spain has well over 20% unemployment, but when you talk to Spaniards they say life is good, the restaurants are packed and we are all on unemployment and healthcare is all paid for so why worry. Italy has had more governments since WWII than anyone can count, and the current prime minister makes Bill Clinton and Monica look like a minor peccadillo. There is no way to know what shape the European banks are really in since they seem to have phony stress tests and nobody is really sure how bad the sovereign exposure is. Possibly France will be OK but who really knows for sure when Greece finally defaults.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.