Don't expect the euro to reverse course anytime soon. European
Coach outlet leaders have failed miserably to shore it up in a timely fashion, even with dramatic displays of resolve. The present crisis was tipped off by investor concerns that Greece might default on its load of sovereign debt, which in turn focused attention on other indebted euro-zone members — Portugal, Ireland, Italy and Spain, which with Greece make up the
Coach High Heels so-called PIIGS. Fears raged about a domino-like series of debt defaults that would cast Europe back into recession.
At least for now, the European Union has effectively squashed contagion by
Coach Wedges agreeing to assemble a rescue fund for indebted members of nearly $1 trillion. The euro, however, barely took a breath before continuing its
Coach factory outlet slow descent. Why? Because the big fund doesn't solve any of Europe's underlying problems. The debt is still there, and the PIIGS are going to have to deal with it, whatever theoretical money their richer neighbors might have pledged. The PIIGS are destined for radical fiscal surgery to bring down deficits and stabilize debt levels, and that process will further suppress growth. Even with austerity measures in place, there is no guarantee that debt crises can be averted. Greece's economy is so severely messed up that
new COACH BOOTS most analysts expect that the country will still require a debt restructuring down the road.
