Here is a great article by Gonzalo Lira on the European situation. He is missing the Italian threat, but gets the reality of the situation into plain english quite well. All of this portends a rush into gold and dollars. With gold being a thinner market and the dollar having it's own issues, it is easy to see why investors and not just speculators or goldbugs are buying gold.
Last Spring it was Greece that was in crisis mode—then last week, it was Ireland—and coming up next is Portugal—
—but all those pale in comparison to Spain.
If I had to bet on which country will bring about the end of the Euro—and perhaps even the end of the European Union—I’d have to say it’s Spain.
Right now, no one is talking about Spain—Spanish spreads are as quiet as a guilty man in a police line-up—everyone’s too concerned over Ireland, and the upcoming Portuguese Situation.
But Spain is the key—Spain is what you should be paying attention to, if you want to find out what will happen to the European Monetary Union (EMU), and the European Union (EU) itself.
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