Hi Nick

That's a correct description of the problems in Europe.Greece is not a large trading partner but so many banks has bonds from Greece in portfolio they came in trouble .Now the Germans have said yesterday they don't exclude a possible default so that Greece could get out of the Euro.That's why a lot of banks took such a loss.The world these days is to much connected with each other that we see large domino effects .All by all I think Europe is in a worser state then the US.You guys in Canada in fact must be proud that your banking sector and government didn't take so much risk after all.

That's why there is fear of an economic slow down.The politicians now dare to say on tv that it some point it will hurt people's income .There is no doubt taxes will be raised to fund the debt situation.So that will have effect on consuming.The best times are gone IMO.

About the CLL on BNN.i agree with that statement.