Greece

Submitted by Raul Ilargi Meijer via The Automatic Earth blog,

“Those are my principles, and if you don’t like them… well, I have others.”

 

– Groucho Marx

Sweden beats USA and Germany as the least likely to default on its bonds but at the other end of the global sovereign risk spectrum lie two socialist utopias - Venezuela (CDS just shy of 6000bps) and Greece (CDS around 1800bps) are the nations most likely to default.

Late last month, Norwegian PM Erna Solberg proclaimed that if she became convinced that Sweden’s refugee crisis was set to spiral out of control or “break down” (as she called it), she may be prepared to close her country’s borders altogether in what would quite possibly amount to a contravention of Norway’s duties under the Geneva Convention and a move that would almost surely trigger a rash of human rights violations. 

(Solberg)

A Unified Europe: Born In the USA

The former Bank of England head Mervyn King said this week that the "depression" in Europe "has happened almost as a deliberate act of policy". Specifically, King said that the formation of the European Union has doomed Europe to economic malaise.

Via KeepTalkingGreece.com,

European Council President Donald Turk is visiting Athens today to talk about the Refugee Crisis. He met with Prime Minister  Alexisi Tsipras and both men agreed that

Unilateral actions by European Union member states to deal with the migrant crisis troubling the bloc is hurting solidarity and must stop.